Tuesday, July 30, 2013

Houston PE firm raises $65 million for energy deals

EIV Capital Management Co. LLC has so far raised $65 million for its second energy investment fund, regulatory filings show Tuesday.

EIV Capital Management Company LLC has so far raised $65 million for its second energy investment fund, regulatory filings show.

Officials for the firm did not immediately respond for comment.

The 4-year-old Houston private equity firm aims to provide capital to companies in the energy industry, covering a broad range of sectors, including upstream, midstream and downstream.

The firm says $5 million to $20 million deals are its sweet spot, and it focuses on energy infrastructure and production, processing, transportation, storage and other energy businesses, according to its website.

The fund, EIV Capital Fund II LP, is expected to remain open to investments for more than one year, as the first date of sale was July 15, according to a filing with the U.S. Securities and Exchange Commission.

So far, it?s collected money from 24 investors.

The biggest private equity deal this month came when Fieldwood Energy, a Houston company backed by private equity giant Riverstone Holdings LLC, took Gulf Coast assets off Apache Corp.?s (NYSE: APA) hands for $3.75 billion in cash.

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Collin Eaton covers banking, finance and securities for the Houston Business Journal. For his breaking stories and industry insights, follow him on Twitter.

Source: http://feeds.bizjournals.com/~r/bizj_houston/~3/sdSgFxJU9ZQ/houston-pe-firm-raises-65-million-for.html

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