Pelican Energy Partners announced that its first nuclear energy services fund exceeded both its initial $300M target and $400M hard cap, capturing $450M in aggregate capital commitments on final close.
Pelican Energy Partners Base Zero was oversubscribed by both existing and new LPs spanning foundations, family offices, pensions, and endowments – including the University of Kentucky Endowment, which per Dakota data allocated $15M – alongside a “substantial” GP commitment from the Pelican team. Base Zero will target control buyouts and growth investments in lower-middle-market companies within the nuclear services sector, including equipment companies.
Calpa Partners acted as Pelican’s global placement agent and advisor on the fundraise, while Kirkland and Ellis served as fund counsel.
Pelican said it has now closed a total of six platform investments from the fund and anticipates closing further opportunities by year-end. The private equity firm specializes exclusively in investments within the energy services sector, with over $1B raised since 2012 and 15 fully realized investments.
Source: https://www.pelicanenergypartners.com/news/pep.holds.final.close.for.inaugural.nuclear.services.fund
