Carnelian Energy Capital Closes 5th Fund at $975M

Carnelian Energy Capital Management, a Houston-based energy investment firm, announced the single closing of its oversubscribed fifth fund, Carnelian Energy Capital V, LP, at a hard cap of $975 million in limited partner capital commitments.

Carnelian manages a family of private equity funds focused on the North American energy sector. The firm has raised approximately $4 billion of cumulative capital commitments since inception in 2015 and has formed partnerships with 32 portfolio companies to date.

“Capital scarcity and the continued underinvestment in natural resources underpin a favorable risk-reward balance for Fund V,” said senior Carnelian investment team members Kevin Goodman, Matt Kelly and Dillon MacDonald. “We are excited about the opportunity set ahead of us and look forward to utilizing our proven strategies to continue creating value for our investors.”