Kimmeridge Closes Sixth E&P-Focused Fund and Related Vehicles with over $1 Billion in New Capital Commitments

Firm continues to lead the industry in redefining the E&P business model and attracting capital across a host of energy strategies

NEW YORK and DENVER, Aug. 2, 2023 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, today announced the final closing of Kimmeridge Fund VI and related vehicles (the "Fund" or "Fund VI"), receiving more than $1 billion in new capital commitments.

Fund VI is 25% larger than Fund V (2019) and represents one of the few North American oil and gas funds that have closed on $1 billion or more over the last five years. The Fund, which will identify, acquire and develop unconventional assets across top-producing basins in North America, received support from institutional investors including endowments, foundations, public pensions, family offices and sovereign wealth funds.

Ben Dell, Founder and Managing Partner of Kimmeridge, said, "We welcome both our returning and new limited partners, and thank them for their continued support. With a focus on assets at the front end of the cost curve, direct operatorship and a flexible investment approach, Kimmeridge strives to consistently deliver strong results across commodity cycles and generate outsized performance for our investors."

Mr. Dell continued, "While we are gratified to have played an important role in spurring a new E&P business model focused on profitability, shareholder alignment and environmentally conscious production, many O&G assets continue to trade at depressed valuations and lack relevance among skeptical investors. This dynamic presents Kimmeridge with compelling investment opportunities to consolidate smaller, disaggregated assets at attractive entry points. We have developed expertise in this strategy, including the successful formation of Civitas, Colorado's first carbon neutral energy producer."

Since the Firm's inception in 2012, Kimmeridge has raised over $5 billion of limited partner commitments across 10 distinct funds, including its Carbon Solutions and Engagement strategies. Fund VI is the latest iteration of the Firm's flagship strategy, where each subsequent vintage has increased in size. Fund VI is actively being deployed, in line with Kimmeridge's track record of deploying 70% of capital, on average, within the first two years of a fund's initial close, and the intent of returning that capital quickly.

Kimmeridge did not use a placement agent, as fundraising was led by Neda Jafar, a long-standing Partner of the Firm. Schulte Roth & Zabel LLP served as fund counsel.

About Kimmeridge
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused in the energy sector. The Firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management and proprietary research and data gathering.

Media:
Daniel Yunger / Hallie Wolff / Emma Cloyd
[email protected] 
917.574.8582 / 917.842.1127

SOURCE Kimmeridge