Andros Capital Partners Closes Second Energy Fund at $750M

Houston-based private equity firm Andros Capital Partners closed its second energy Fund, Andros Energy Capital II, at its $750mn hard cap.

The new fund will pursue a similar investment strategy as the firm’s inaugural 2020-vintage fund focused on private equity investments, credit opportunities and direct asset-level investments.

With more than $1bn in cumulative equity commitments, Andros says Fund II will primarily target middle-market transactions requiring between $100 million and $500 million and maintain “a completely flexible and opportunistic investment mandate”, allowing the firm to invest across the capital structure in both public and private equity or debt securities.

“Our team continues to source and execute on compelling investment opportunities during this period of fundamental macro dislocation in global energy markets caused by the rapid recovery of hydrocarbon demand and continued global underinvestment,” said Phillip A. Gayle, Jr., Founder and Managing Partner of Andros.

Gibson Dunn & Crutcher LLP served as legal counsel to Andros in connection with the formation of Fund II. No placement agent was used.