Rowayton, CT, January 16, 2014 – Eaton Partners, one of the largest independent global placement agents, announced the final close of the Ridgewood Energy Oil & Gas Fund II, L.P., an energy private equity fund formed by Ridgewood Energy Corporation to focus primarily on the exploration and development of oil projects in the deep waters of the Gulf of Mexico. The Fund was oversubscribed with $1.1 billion in commitments, versus a $750 million target, from a diversified group of global institutional investors, including notable endowments, foundations, state and public pension funds, and family offices.
Ridgewood Energy’s experienced investment team includes 16 professionals with an average of 30 years of experience in offshore projects in the Gulf of Mexico, and is led by Kenny Lang, a 32-year veteran of the oil & gas industry. With this Fund, Ridgewood plans to capitalize on existing infrastructure, and employ a unique investment process and strategy where the investment team’s operational and technical value-add plays an active role in each project’s development, operations, and management, at every stage of the investment process. This Fund is largely pre-specified with thirteen projects already identified.
“The team at Eaton Partners did an outstanding job in helping us plan and implement the fundraising. Eaton’s distribution efforts were top notch and their Project Management team is unparalleled,” said Kenny Lang, President of Ridgewood Energy.
“Ridgewood has one of the most distinctive platforms and experienced teams in the Gulf of Mexico offshore E&P space. The strong investor support for this fund reflects the quality of the team, the value of its unique investment strategy, and strength of the opportunity in the current marketplace. We are thrilled to be a part of their success,” said Jeff Eaton, Partner and Head of the Real Assets fundraising team at Eaton Partners.
About Ridgewood Energy
Ridgewood Energy Corporation, founded in 1982, manages private investment funds that drill and develop oil and gas projects in the U.S. waters of the Gulf of Mexico. With its strategic focus on the deepwater Gulf of Mexico, Ridgewood Energy and its partners seek to develop and produce new oil and gas reserves with multi-billion dollar revenue potential. Ridgewood’s team of energy-industry professionals bring extensive operating, technical, and geological expertise to all stages of the investment process, from project evaluation and selection through drilling, development, and production. For more information, visit www.ridgewoodenergy.com.
About Eaton Partners
Founded in 1983, Eaton Partners is one of the oldest, largest and most experienced placement agents in the world, having raised more than $55 billion across 76 highly differentiated funds. With over 50 professionals across offices in North America, Europe and Asia, the firm raises institutional capital for investment managers across a full range of alternative strategies – private equity, real assets, real estate and hedge funds/liquid products. Eaton Partners is currently in the market with 14 funds whose strategies include: real estate, energy, timberland, agriculture, sector-specific and general buyout, credit/special situations, and real estate debt, long/short equity, operational activist, and fund-of-funds. Partnering with a select number of the highest-quality fund managers, Eaton Partners has represented some of the most innovative funds of the last two decades. With extensive institutional relationships, deep sector knowledge, fresh insights and a partner-driven approach, Eaton Partners is dedicated to every client’s success.
Eaton Partners, LLC, is a Registered Broker-Dealer and a member of FINRA (www.FINRA.org) and SIPC. Eaton Partners (UK) LLP is authorized and regulated by the Financial Services Authority. Eaton Partners Advisors (HK) Limited is approved as a Type 1 License company under the Securities and Futures Commission (SFC) in Hong Kong. To learn more, please visit www.eatonpartnersllc.com
For more information, please contact:
Jeff Eaton Leslie Golden
Eaton Partners, LLC Ridgewood EnergyBack to News