Cibolo Energy Management has closed its inaugural fund on $245m to target the North American oil and gas sector.
Cibolo Energy Partners I secured capital commitments from a range of institutional investors including 21 corporate pension plans.
Fund I will invest in North American oil and gas companies in the lower mid-market through acquisition or accelerated development capital.
The firm has already invested in three upstream portfolio businesses so far. Cibolo typically invests between $20m to $75m per business according to its website.
Aqueduct Capital Group served as an exclusive placement agent for the fund.
The mid-market-focused firm is based in Houston, Texas and is led by co-founders Justin Teltschik and JW Sikora. Both Sikora and Teltschik were previously principals at Carlyle Energy Mezzanine Opportunities Group.
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