Outfitter Energy Capital Closes New Fund
HOUSTON, September 20, 2022 (Newswire.com) - Outfitter Energy Capital ("Outfitter"), the Houston-based energy private equity funds manager, today announced the closing of Outfitter Energy Partners, L.P. With the backing of funds managed by special situations secondaries manager LSV Advisors, LLC ("LSV") as lead investor, this new fund was designed to provide both existing Outfitter and new limited partners the opportunity to invest in an established portfolio of upstream oil and gas companies with attractive development and value creation opportunities. Proceeds from the new fund were used to purchase an existing portfolio of assets from affiliated Outfitter managed funds and will provide unfunded commitments for necessary growth capital to enhance the portfolio going forward.
"We frankly could not be more pleased with the outcome here. LSV and their partners really stepped up to support this raise, which allowed our historical investors the option to cash out or reinvest in what we think is a great growth opportunity for all partners," said George McCormick, Co-Founder and Managing Partner of Outfitter.
The new fund will be highly focused on ongoing development activities in four different basins, including the Western Pennsylvania wet-gas Marcellus, Woodford wet gas in Oklahoma, conventional oil in Wyoming and the East Texas Cotton Valley gas play. According to Outfitter, these well delineated and understood assets provide an excellent base from which to build value in the portfolio in the currently very favorable commodity price environment.
"LSV is excited to invest in this opportunity and partner with the Outfitter management team. We believe they are uniquely positioned with this portfolio of high-quality U.S. shale projects and look forward to their success," said David Tisch, CEO and Founder of LSV.
Outfitter Co-Founder and Managing Partner, Curt Schaefer, stated, "We identified this opportunity to drive value creation in the portfolio well over two years ago and, ultimately, we were able to find strong like-minded investors to support our thesis, and we look forward to working together to realize a great outcome."
About Outfitter Energy Capital
Outfitter Energy Capital was established in 2016 by two founding partners, George McCormick and Curt Schaefer, who had already worked together in the energy private equity industry for almost a decade. The firm has roots and expertise across the energy value chain with a current focus on the upstream exploration and production sector due to a belief that historically constrained capital availability to the sector provides enhanced risk-adjusted return opportunities.
About LSV Advisors, LLC
Founded in 2005, LSV is a New York-based special situations secondaries manager, registered with the SEC, with approximately $1.5 billion in assets and commitments under management on behalf of institutional and family office clients worldwide. LSV provides fund managers and investors with a wide variety of restructuring and liquidity solutions across all types of alternative investment funds. Additional information about LSV may be obtained at www.lsvfinancial.com and on the Investment Adviser Public Disclosure website maintained by the SEC (http://www.adviserinfo.sec.gov).
Source: Outfitter Energy Capital