Pearl Makes Equity Investment in Oil & Gas E&P Company
Pearl Energy Investments has made an equity investment in Slant Energy III, LLC, a newly formed upstream oil and gas exploration and production company co-founded by Stewart Stover and Jeff Etienne. Headquartered in Lafayette, LA, Slant III will pursue acquisition and development opportunities focused primarily in the Permian Basin region of West Texas and New Mexico. The company was
“Since 2016, Slant has created value across multiple basins and through various operating strategies. We expect the market to provide unique opportunities for Slant to capitalize in their focus areas,” Billy Quinn, managing partner of Pearl, said.
Pearl is a Dallas, Texas-based firm with approximately $3.0 billion of cumulative capital commitments. The firm invests in the North American energy sector, targeting opportunities requiring $50 million to $150 million of equity capital.
Earlier this month the firm announced it closed its fourth fund, Pearl Energy Investments IV LP, with total commitments of $999.9 million. The fund reached its hard cap within four months of launch. In May of 2023, Pearl raised its biggest vehicle at the time with a $705 million final close for its third fund.
Kirkland & Ellis LLP served as legal advisor to Slant III and Wilkie Farr & Gallagher LLP served as legal advisor to Pearl in connection with the formation of Slant III.
