Fundraising - MARCH 6, 2014

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OFS launches $175m energy fund

by Andrea Waitrovich

Houston-based OFS Energy Fund has launched a third energy fund, according to a filing with the SEC. The firm has raised $7 million for OFS Energy Fund III, which has a $175 million fundraising goal. A final close date was not disclosed.

The firm’s previous fund, OFS Energy Fund II, held a final close in September 2012, raising $90 million. The firm’s second private equity fund focuses on acquiring and recapitalizing middle-market companies in the energy service industry with enterprise values between $10 million and $50 million in the energy service industry.

OFS Energy Fund II made an equity investment in Buckhorn Energy Service, a provider of oilfield waste disposal in North Dakota. Other equity investments include Bold Production Services, which provides flowback and early production equipment to oil and gas

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