Gas

Haddington closes USD350m energy private equity fund

Haddington Ventures has closed its latest private equity fund, Haddington Energy Partners IV (HEP IV), with total committed capital of nearly USD350m targeted for investments in midstream energy infrastructure.

According to senior managing partner Chris Jones, HEP IV is targeting conventional midstream opportunities and is seeking to invest in experienced midstream management teams with proven track records of success in entrepreneurial environments.

"HEP IV clearly demonstrates Haddington's commitment to building infrastructure in the midstream energy business by investing in entrepreneurs with the skills to create and grow world-class midstream projects and companies," Jones says. "These management teams require strong leaders able to drive strategic company visions, create and manage highly capable organisations, and integrate strong operating capabilities. HEP IV targets management teams to both develop or acquire and optimize a wide variety of midstream infrastructure."  

"HEP IV closed at nearly double the size of HEP III, which served to diversify Haddington's investor base significantly," says Terry Crikelair, managing partner of Champlain Advisors, which served as exclusive placement agent. "We were pleased with the strong interest from several new investors along with the continued support from the existing investor base."

Haddington has raised nearly USD700m of equity capital since its formation in 1998.  Currently, one third of Haddington's management teams are repeat portfolio company management teams from prior Haddington funds.

The participating investors in HEP IV include insurance companies, public and private pensions, endowments, bank holding companies and high net worth individuals.

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