The Nebraska Investment Council has committed $30 million to Quantum Energy Partners VI, confirms Joe Jurich, deputy stat investment officer with NIC. The council, which manages $17.8 billion in assets between a number of funds, committed $20 million to the fund’s predecessor, QEP V, in 2008.
The energy fund has received a lot of action from institutional investors in September, including commitments from the Texas County & District Retirement System and the $6.5 billion District of Columbia Retirement Board.
The fund itself is reportedly seeking a $2.5 billion haul, the same amount its predecessor pulled in by its 2009 close. According to a statement at Fund V’s close, the fund series makes investments ranging in size between $100 million and $400 million in the oil and gas upstream, midstream and power sectors, though opportunities across the energy sector are considered.
The investment is housed in Nebraska’s private equity bucket, which has a 5 percent target allocation. The council raised its target allocation to real estate from 5 percent to 7.5 percent in November 2013.