Kimmeridge brings 2017 fundraising to more than $1bn with Fund IV hard cap close


Unconventional oil and gas investment-focused private equity house Kimmeridge Energy Management has hit a $400m hard cap close for its fourth fund.

Co-investments alongside the fund mean Kimmeridge has raised a total of $650m to invest in upstream oil and gas opportunities, bringing its total LP capital raised this year to more than $1bn thanks to a Permian-focused minerals fund already closed in 2017.

The firm said Fund IV would focused on directly acquiring and developing unconventional assets in top-tier basins that sit at the front end of the US cost curve, which are positioned to outperform through the commodity price cycle.

Fund IV is already 58 per cent deployed, it added.

A Sidley Austin team led by David Kreisler served as fund counsel. Kimmeridge did not use a placement agent.

Kimmeridge was founded five years ago by Ben Dell, Neil McMahon and Henry Makansi.

The firm has raised a total of $1.7bn of LP capital in that time.

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