NEW YORK, Dec. 7, 2017 /PRNewswire/ -- Kimmeridge
Energy Management Company, LLC ("Kimmeridge" or the "Firm"), an
energy private equity firm focused on making direct investments in
unconventional oil and gas assets in the U.S., today announced the
final closing of Kimmeridge Energy Fund IV (the "Fund" or "Fund IV)
at its $400 million hard cap.
In conjunction with co-investments alongside the Fund, Kimmeridge
has raised total capital commitments of $650
million to invest in upstream oil and gas
opportunities. Inclusive of Fund IV, its related
co-investments, and a $350 million
Permian-focused minerals fund, Kimmeridge has raised over
$1 billion of limited partner
commitments in 2017, and approximately $1.7
billion since the firm's founding in 2012.
Fund IV is focused on directly acquiring and developing
unconventional assets in top-tier basins that sit at the front end
of the U.S. cost curve and are positioned to outperform through the
commodity price cycle. Fund IV is currently 58% deployed.
Ben Dell, Founder and Managing
Partner of Kimmeridge, said, "We are pleased with the Fund's
reception and would like to thank our limited partners for their
support. We have already made several compelling Fund IV
investments and identified a number of exciting oil and gas
opportunities that we believe will create significant value for our
investors."
Led by founders Ben Dell, Dr.
Neil McMahon and Henry Makansi, the Kimmeridge team has deep
industry, investment and operating expertise. Kimmeridge maintains
a fully-staffed, in-house operating team, with experience across
all major upstream functions and disciplines. This structure
empowers the Fund to directly identify, develop and monetize
promising assets, in contrast to the more traditional private
equity energy model in which fund sponsors recruit management teams
and outsource oversight of investments. With Kimmeridge's
direct model, more of the investment return accrues to limited
partners.
The Fund received support from a diversified base of existing
and new investors, including university endowments, foundations,
family offices, public pension funds and a sovereign wealth
fund.
A Sidley Austin LLP team, led by David
Kreisler, served as fund counsel. Kimmeridge did not use a
placement agent.
About Kimmeridge Energy
Founded in 2012 by
Ben Dell, Dr. Neil McMahon and Henry
Makansi, Kimmeridge is an energy private equity firm focused
on making direct investments in unconventional oil and gas assets
in the U.S. Rather than partner with separate management teams,
Kimmeridge identifies, owns and operates each of its assets
directly, maintaining an in-house geology and operating team with
experience across all major E&P functions.
Kimmeridge Contact:
Matthew Zales
646.517.7258
matthew.zales@kimmeridgeenergy.com
Media Contact:
Daniel
Yunger
Kekst
212.521.4800
daniel.yunger@kekst.com
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SOURCE Kimmeridge Energy