NEW YORK--(BUSINESS WIRE)--Drillcore Energy Partners, LLC, a New York-based private equity firm, today announced that it is seeking a target of $250 million (MM) for its first private equity fund “Fund I” to make value-enhancing investments in the upstream oil and gas sector located in the continental United States.
Drillcore seeks to allocate the capital raised from limited partners (“LPs”) for its pipeline of proprietary deal flow, including an inventory of pending acquisitions that have already been placed under letter of intent (“LOI”). The Firm is working with proven management teams with exceptional track records of success providing growth capital to acquire and exploit multiple onshore basins with low-risk development opportunities with existing production. The investor base for Fund I comprises state and corporate pension funds, insurance companies, sovereign wealth funds, asset managers, family offices, high net worth individuals and endowments.
Drillcore seeks to close the fundraise for its inaugural fund this summer.
About Drillcore Energy Partners, LLC:
Drillcore is a New York-based private equity firm focused on middle-market oil and gas investment opportunities in the U.S. Drillcore has an additional presence in Houston. Drillcore seeks control equity investments and provides growth equity capital to oil and gas companies across select delineated onshore basins in partnership with disciplined and experienced management teams, with deep basin-specific expertise, to build successful businesses. We partner with skilled entrepreneurs and business leaders, providing deep technical and energy expertise, creative capital solutions, and strategic support to earn attractive risk-adjusted returns for our investor base. For more information about Drillcore, please visit www.drillcorepartners.com.