Avant Natural Resources Closes $1B Fund II to Expand Permian Basin Strategy
Avant Natural Resources has closed its second flagship fund at the hard cap with more than $1 billion in total equity capital commitments, continuing its strategy of aggregating and developing upstream oil and gas assets and related infrastructure in the Permian Basin. The close drew commitments from legacy investors in predecessor funds alongside new institutional capital from pensions, foundations, family offices, and asset managers.
Fund II’s existing investments include an acreage portfolio covering more than 40,000 net acres in New Mexico, production from more than 20 Avant-drilled horizontal wells, and exposure to both existing and greenfield natural gas and water infrastructure projects across the basin.
“The Permian remains one of the most prolific oil and gas basins in the world, and we continue to see plenty of runway to execute on our aggregation strategy,” Skyler Gary, founder and co-CEO, Avant Natural Resources.
Fund II is Avant’s third flagship investment vehicle. The firm’s prior fund demonstrated the strategy’s exit potential in early 2025, when Avant sold its Delaware Basin upstream and infrastructure assets to Coterra Energy in an all-cash transaction valued at $1.45 billion — a return that helped attract both returning and new investors to the latest fundraise.
Kirkland & Ellis LLP served as legal counsel for Avant Natural Resources Fund II, LP.