Quantum seeks $2.5bn for sixth energy fund

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oil well drillPrivate equity firm Quantum Energy Partners is reportedly looking to raise $2.5bn for its sixth energy-focused fund.

Fund VI is expected to hold a first close on as much as $1bn in June, said PeHUB, citing people who have heard the firm’s fundraising pitch.

Park Hill Group is acting as a placement agent for the fund and it is unclear whether it has a hard cap, said the sources.

If the new fund reaches its target, it will have the same size as Quantum’s fifth vehicle, which was closed in 2009. Quantum targets  oil and gas upstream, midstream and power deals of between $100m and $400m.

The firm has received more than $6.5bn of equity commitments since its launch in 1998.

Last September AltAssets reported that an affiliate of Quantum had launched a fund with a $1bn target. At that time, Quantum Resources Fund II did not have any commitments.

Quantum Resources is focused on buying and developing producing and divesting long-lived, mature, onshore oil and gas properties in North America.

The firm was launched in 2006 by the founders of Quantum Energy Partners, who teamed up with chairman Don Wolf and Alex Cranberg.

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