Quantum Energy Partners has closed its latest private equity fund, Quantum Energy Partners VII, at its $5.6 billion hard cap, according to a news release.
The new fund raised 26% more capital than the firm's prior fund, the $4.45 billion Quantum Energy Partners VI, which closed in 2015. The fund will invest in energy companies in the oil and gas upstream, midstream, oil field service and power generation sectors.
Investors in the fund include the $49.5 billion Tennessee Consolidated Retirement System, Nashville; $28.5 billion Texas Employees Retirement System, Austin; $27 billion Nebraska Investment Council, Lincoln; $8.1 billion Alameda County Employees' Retirement Association, Oakland, Calif; $2.3 billion Houston Municipal Employees Pension System; and the $661 million endowment trust fund of the Oklahoma State Regents for Higher Education, Oklahoma City.
Michael Dalton, managing director, could not be reached for comment by press time.