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.

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

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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