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PetroCap closes USD350m PE fund at hard cap

PetroCap has held the final closing of PetroCap Partners II at its hard cap of USD350 million, The fund is more than double the size of its predecessor fund, Falcon E&P Opportunities Fund, which closed on USD163 million in 2011.

PetroCap Partners II allows PetroCap to continue its 23-year history of direct oil and gas working interest investments.

“We are pleased to have completed the successful fund raise of PetroCap Partners II,” says Lane Britain, a Managing Director at PetroCap. “We are appreciative of the ongoing support of our past investors and welcome our new investors. We are thankful for the continued confidence they have placed in our firm."

PetroCap Partners II seeks to invest in onshore basins in the lower 48 states with a targeted investment size of USD20-USD70 million per project. In addition, PetroCap seeks to partner with operating teams to develop projects in the US E&P market.

"We are excited about the opportunity to deploy this new capital on behalf of our long-term investors," says Alec Neville, a Managing Director at PetroCap. "The E&P sector is going through a challenging time, but we are confident that our deep technical and operating expertise will allow us to find valuable opportunities in this portion of the commodity cycle."

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