Kimmeridge Energy Management Company, an private equity firm focused on making direct investments in unconventional oil and gas assets in the US, has held the final closing of Kimmeridge Energy Fund V at its USD800 million hard cap.
Fund V was twice the size of Fund IV and oversubscribed. Inclusive of prior fundraises and co-investments, Kimmeridge has raised approximately USD2.8 billion of limited partner commitments since the firm’s founding in 2012.
Fund V is focused on continuing Kimmeridge’s strategy of directly acquiring and developing unconventional assets in top-tier basins. The fund received support from institutional investors including endowments, foundations, family offices and sovereign wealth funds.
Ben Dell, Founder and Managing Partner of Kimmeridge, says, “We would like to welcome both our returning and new limited partners, and thank them for their continued support. With a focus on assets at the front end of the cost curve, direct operatorship and a flexible investment approach, Kimmeridge is equipped to excel through commodity cycles. We believe that the current E&P landscape presents a host of compelling investment opportunities at attractive entry points, and we look forward to continuing to generate strong outcomes for our stakeholders.”
Led by founders Ben Dell, Dr Neil McMahon and Henry Makansi, the Kimmeridge team has deep industry, investment and operating expertise. Kimmeridge maintains a fully-staffed, in-house operating and geology team, with experience across all major upstream functions and disciplines. This integrated structure empowers the firm to directly identify, develop and monetize promising assets.
Sidley Austin LLP served as fund counsel. Kimmeridge did not use a placement agent.
