Commodities focused PEs

Hi guys

I am a 3rd year analyst working in a natural resources group at a bulge bracket investment bank. I have developed strong interest and knowledge in sector and would like to consider a PE focused on commodities (metals, coal, oil & gas, etc).

Can you give me some names of PEs that are active in this space?

Thanks

8 Comments
 

First Reserve is one of if not the biggest purely energy-focused sponsor. Some of the usual LBO managers have dedicated funds (for example Warburg has Sheridan) but I don't know how the deal teams for that sort of group are structured. Lots of MLPs in the space essentially operate as private equity as well.

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First Reserve has portfolio cos all over (both reserves and service providers/operators) but that may not be the perfect example since they're one of the largest pure-players.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 
Best Response

Major PE Natural Resource funds are as follows:

  • First Reserve (mostly Oil & Gas assets including pipelines etc)
  • Riverstone (Oil & Gas AND Power assets)
  • Apollo (just starting a Houston office)
  • KKR (energy group with a Houston office)
  • Warburg Pincus (small energy team)
  • Lime Rock
  • Quantum
  • American Capital (currently growing out its energy team)
  • NGP
  • TPG (energy group)

Of course, there are several other small funds out there. Also, don't forget, large commodity trading firms that are beginning to operate a lot like IB firms in the early 2000s with burgeoning principal investment teams focused on buying physical assets to trade around. Look at places like Glencore, Vitol, and Trafigura

 

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