Pelican Energy Partners has completed fundraising for Pelican Energy Partners III LP with an oversubscribed $233 million of capital commitments.
Fundraising for the new fund was completed in just three months and the first and final closing took place on February 15th. Capital commitments were received from endowments, foundations, family offices and public pension funds. The firm’s earlier fund, Pelican Energy Partners II LP, closed with $210 million of commitments in July 2016.
Pelican Energy Partners invests in small to middle market, energy services and equipment companies. Target companies typically have annual EBITDA between $1 million and $10 million. The firm has 15 investment and operating professionals, including five individuals who have worked as CEOs in the energy sector. Pelican Energy Partners is based in Houston (www.pelicanenergypartners.com).
“We continue to be focused on the lower end of the middle market where we see the most compelling investment opportunities. We are grateful for the continued support from our existing investors. We are very fortunate to have a great team and we are pleased with the results of our strategy,” said Mike Scott, Founder and Managing Partner at Pelican Energy Partners.
© 2018 Private Equity Professional | February 23, 2018