Fundraising

Indiana commits $100m to energy

The Indiana Public Employees’ Retirement Fund will become a limited partner in an energy fund headed by former First Reserve president Ben Guill, among other investments.

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The Indiana Public Employees’ Retirement Fund remains bullish on energy sector investments, having recently committed more than $100 million to energy-focused funds.

White Deer Energy, the debut fund from a firm headed by former president of First Reserve Ben Guill, received a $50 million commitment. The fund is targeting $750 million for investments in mid-sized oil and gas exploration and production companies, energy infrastructure and companies that service the oil and gas industry.

The pension also gave $40 million to Energy Capital Partners II, which is targeting $3.5 billion. Doug Kimmelman, Scott Helm and Thomas Lane, all Goldman Sachs alumni, founded Energy Capital Partners in 2005.

In July, the $16 billion pension also made $10.8 million in secondary purchases of fund interests from oil and gas-focused private equity firm EnCap Investments.