Blue Water Energy, a leading global middle-market energy specialist private equity firm based in London, has held a final close of Blue Water Energy Fund II (BWE Fund II), with total commitments of more than $1.1 billion, surpassing its $1 billion target after securing further commitments from a number of new limited partners.
Blue Water Energy closed its inaugural Fund I in May 2013 with $862 million of commitments and now has a portfolio of 11 companies in this fund.
BWE Fund II’s investment strategy will be the same as BWE Fund I: a buy and build strategy focused exclusively on opportunities in the exploration and production, upstream equipment and services, and mid/downstream equipment and services subsectors.
BWE Fund II has invested in three investment platforms to date. These include GPS Group, focused on building and operating mid/downstream storage and logistics assets globally; Mime Petroleum, focused on exploration and production opportunities on the Norwegian Continental Shelf; and Authentix, a global identification solutions provider that prevents illicit trade of high-value, high-volume products such as gasoline, diesel and LPG with broader applications globally.
Blue Water Energy’s second fund has attracted investors including pension funds, sovereign wealth funds, endowments, foundations, funds of funds, insurance companies and family offices from North America, Europe and Asia. BWE Fund II secured a high proportion of re-investment from BWE Fund I limited partners as well as commitments from a number of new limited partners.
Since raising its two funds, (BWE Fund I & BWE Fund II), the Blue Water Energy team has $2.5 billion under management.
