Energy Investor Pearl Raises $705M for Largest Fund Yet
Dallas-based energy private equity specialist Pearl Energy Investments has raised its biggest vehicle yet through a $705 million final close for its third fund that focuses on oil and gas opportunities.
Launched in 2015, the firm now manages about $1.9 billion across its funds. Pearl typically targets equity investments of $25 million to $150 million in North American energy industry companies and has led investments requiring more than $400 million.
“In what has been a challenging time for traditional energy, the Pearl team’s disciplined investment approach has allowed us to make significant distributions to our investors over the past several years,” noted Billy Quinn, Managing Partner of Pearl.
Pearl closed its debut fund at $500 million 2015 and followed that with a $600 million haul two years later.