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FUNDRAISING NEWS | February 04, 2025
Tags: Private Equity, Energy, Fundraising
North American energy investment firm Pearl Energy Investments said it closed its fourth flagship fund, Pearl Energy Investments IV, at the hard cap of $999.9M.
The Dallas-based energy investment firm filed for the fund with the SEC in December 2024, indicating that the sale of equity and pooled interest in the investment vehicle was not planned to last more than a year. Institutional investors in the fund include the University of Alabama System Endowment, which made a $20M commitment, according to Dakota data.
The fund's predecessor, Pearl Energy Investments III, raised $476.7M in 2022, with support from 26 investors.
At the time of the fourth fund's close, Pearl Energy had $2B of capital under management, according to its website. The firm, which has led investments with over $400M of equity capital, typically targets opportunities requiring equity capital in the $50M to $150M range. It has built a portfolio that includes Allied Energy, Colgate Energy, Eagle Mountain Energy Partners, Spring Valley Acquisition and Swordfish Energy.
For the latest fundraise, Pearly Energy tapped Kirkland & Ellis as its legal counsel.
Written By: Dakota
January 17, 2025
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