The $41.9 billion Texas County & District Retirement System has committed $130 million Carnelian Energy Capital IV.
Houston-based Carnelian manages a family of investment funds focused on North American energy investments, primarily with next-generation executives, in the lower-to-middle market upstream oil and gas sector. Carnelian Energy Capital III closed in 2019 with $775 million of capital commitments. Recently, the fund made an equity commitment to Azul Resources, exploration and production company focused on acquisitions in premier natural gas basins in North America.
