The $27 billion University of Texas Investment Management Co. (UTIMCO) has formed a partnership with private equity energy firm Post Oak Energy Capital LP in which UTIMCO will commit $200 million to Post Oak’s debut infrastructure fund. UTIMCO will be Post Oak’s only limited partner.
Post Oak had been fund raising with a $200 million target after operating for several years on a deal-by-deal basis, according to the firm. Post Oak closed 14 investments during that time.
Post Oak targets private equity investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oil field services and related infrastructure. Funding from Post Oak will be used for corporate growth capital, development acceleration, acquisitions and recapitalization purposes.