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HOUSTON (WO) — Carnelian Power Capital Administration, L.P. has closed its Canada-focused Carnelian Acquisition and Growth fund (CAD) on the arduous cap of $600 million in restricted accomplice commitments. The one-closing fund was oversubscribed, reflecting continued investor curiosity in upstream alternatives north of the border.
“We’re immensely grateful for the sturdy assist and belief of our buyers as we shut this distinctive automobile targeted on scaled and opportunistic vitality investments in Canada,” stated Tomas Ackerman, Carnelian Associate. “We now have been long-time buyers within the Canadian market and are trying ahead to persevering with our profitable monitor report of sponsorship and worth creation. We’re honored to accomplice with Dustin Hoffman and Dan van Kessel and all the Refraction Power crew as our anchor companions in CAD.”
Based in 2015, Houston-based Carnelian manages a household of personal fairness funds concentrating on North American vitality investments. The agency has raised about $4.6 billion since inception and fashioned partnerships with 39 portfolio corporations.
“The Canadian upstream area offers extremely compelling funding alternatives. Capital shortage mixed with plentiful and financial growth stock underpin a positive risk-reward steadiness for CAD,” stated Dillon MacDonald, Carnelian Managing Director. “We’re excited concerning the alternative set forward of us and stay up for using our confirmed methods to proceed creating worth for our buyers.”
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