Published: May 15, 2020 |

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Dallas, Texas-based Energy Spectrum Capital recently closed Energy Spectrum Partners VIII with capital commitments of $969 million.

“The final close of Fund VIII enables us to continue wisely deploying capital on behalf of our limited partners, as we have done over the past 25 years,” said Thomas O. Whitener Jr., president and founding partner. “In the current environment, we believe we are well positioned to identify high quality midstream assets and take advantage of opportunities amid the significant price dislocations in the current market.”

James P. Benson, Founding Partner, added, “This new capital provides Energy Spectrum with a renewed mandate to support best-in-class management teams to build successful midstream companies. Our 10 investment professionals bring an average of 26 years of experience in energy markets, which we believe will enable us to profitably navigate the market volatility and build another strong portfolio.”

Fund VIII will invest primarily in midstream assets including gathering and transportation systems, processing and treating plants and storage facilities. A mix of 82 limited partners committed to the fund, including private and public pension funds, insurance companies, university endowments, foundations and family offices.

To date, Fund VIII has committed to four new portfolio companies and has a fifth in documentation. Three of the four existing companies are led by management teams with whom Energy Spectrum has worked with previously.

Since 1995, Energy Spectrum has specialized in direct investments in lower middle market companies that acquire, develop and operate midstream energy assets in the United States and Canada. Since inception, the firm has raised more than $4.5 billion of equity capital and has sponsored 63 portfolio companies to date.

Source: Rigzone

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