Pelican Energy Partners has closed its latest private equity fund, Pelican Energy Partners II, with total committed capital of USD210 million targeting investments in control buyout and growth investments in energy services and equipment companies.
According to founder and managing partner Mike Scott, Fund II continues Pelican’s successful strategy of investing in companies in the energy sector that have significant growth potential as well as resilience to industry cycles.
“Our investment track record resonated with investors,” says Scott. “Since starting Fund I in 2012 near the peak of the last cycle, we have been patient and disciplined in deploying capital and that has benefitted our investors. Sometimes the best deals are the ones you don’t do.”
“Despite a number of investors being spooked by the volatility in the energy markets, Fund II was oversubscribed within four months,” adds Terry Crikelair, managing partner of Champlain Advisors, who served as Fund II’s exclusive placement agent. “Pelican’s deep operating expertise and discipline have served them well in the OFS space.”
Members of the Pelican Energy Partners team have deployed over USD500 million of equity capital commitments in aggregate over their careers as entrepreneurs, operators and investors. The team includes nine investment and operating professionals, four of whom have worked as CEOs in the energy sector.
The participating investors in Fund II include public pensions, endowments, consultants and high net worth individuals.
Champlain Advisors, a global fund placement, advisory and investor relations firm, served as Pelican’s exclusive placement agent in raising Fund II.
