Fundraising - SEPTEMBER 15, 2014

Energy Spectrum raises $784m for seventh fund

by Reg Clodfelter

Energy Spectrum Capital has raised $783.9 million for Energy Spectrum Partners VII, according to a filing with the SEC.

The Dallas-based energy investment firm is looking to raise as much as $1.2 billion for the fund. Its predecessor closed in 2011 after reportedly raising $999 million with which to invest in midstream oil and gas assets. ESC focuses on middle-market energy companies that utilize “buy-and-build” strategies or greenfield development opportunities.

The firm’s midstream funds seek “throughput” assets including oil and gas gathering and transportation systems, processing and treating facilities, storage facilities, and other infrastructure assets. On a selected basis, the funds also may invest in energy service and power development companies, according to the firm’s website. ESC generally targets equity investments in the range of $50 million to $150 million.

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