Quantum Energy Partners closes $1.32bn fund

The Houston energy-sector investor’s fourth fund follows its participation in the raising of Quantum Resources, a $1.2bn oil and gas reserves fund, with Aspect Energy in October.

Quantum Energy Partners, a private equity firm based in Houston, Texas, has closed Quantum Energy Partners IV, a $1.32 billion (€1 billion) fund, the firm said in a statement. This close follows the closing of Quantum Resources, a $1.2 billion fund focused on acquiring oil and gas properties, that Quantum raised in conjunction with Denver, Colorado-based exploration and production firm Aspect Energy in October.

“Quantum [Energy Partners] will primarily target investments in the oil and gas sector, while also considering opportunities in the midstream, oil field service, coal, power and alternative energy sectors,” the statement said of the new fund.

“Quantum has an outstanding track record and team, resulting in a heavily oversubscribed fundraising,” said Terry Crikelair, managing partner at Champlain Advisors, the exclusive placement agent to the fund. 

Quantum Resources exceeded its target goal of $750 million and focuses on acquiring oil and gas reserves. It invests primarily in North America, though some of its commitments are made abroad. Donald Wolf, who worked at publicly traded Westport Resources Corporation from 1996 until its merger with Kerr-McGee in 2004, leads a team of executives from a range of energy companies in running Quantum Resources.

Quantum has approximately $3.2 billion in capital under management, the statement said. It joined Carlyle/Riverstone and Lime Rock Partners to commit $470 million to Vantage energy, an oil and gas company based in Denver, in December.