Pelican Energy Partners Announces Oversubscribed $233 Million Private Equity Fund For Oilfield Services

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Feb 22, 2018, 07:00 ET

HOUSTON, Feb. 22, 2018 /PRNewswire/ -- Pelican Energy Partners is pleased to announce the completion of fundraising for Pelican Energy Partners III LP ("Pelican III"), which was substantially oversubscribed, and accepted $233 million of capital commitments within three months of commencing fundraising. The first and final closing took place on February 15, 2018, with commitments from top-tier investors, including endowments, foundations, family offices and public pensions. Pelican III continues the momentum of its predecessor fund, Pelican Energy Partners II LP, which closed with $210 million of commitments in July 2016.

"We continue to be focused on the lower end of the middle market where we see the most compelling investment opportunities. We are grateful for the continued support from our existing investors. We are very fortunate to have a great team and we are pleased with the results of our strategy," said Mike Scott, Founder and Managing Partner at Pelican Energy Partners.

Pelican Energy Partners focuses exclusively on energy service and equipment investments in small companies with differentiated offerings. Its team of 15 investment and operating professionals, including five individuals who have worked as CEOs in the energy sector, have deployed an aggregate of over $500 million of equity capital over their careers as entrepreneurs, operators and investors.

Champlain Advisors, LLC served as the exclusive placement agent and Baker Botts L.L.P. served as legal counsel.

About Pelican Energy Partners

Pelican Energy Partners, through its private equity funds, is a market leading Houston-based energy private equity firm focused solely on energy service and equipment company investments. For more information, visit www.pelicanenergypartners.com or contact Mike Scott at (713) 559-7112.

About Champlain Advisors, LLC

Champlain Advisors, LLC provides fund placement, advisory and investor relations services to alternative investment managers. Champlain's team has raised over $28 billion of institutional capital globally and is an SEC registered Broker/Dealer and FINRA/SIPC member firm. Please visit www.champlainadvisors.com or contact Terry Crikelair at (212) 686-7949 x112 for additional information.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future bookings, acquisitions, business trends, executive compensation, and other information that is not historical information. Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

Contact: Mike Scott
Pelican Energy Partners
(713) 559-7112

SOURCE Pelican Energy Partners