Blue Water Energy reaches $861m hard-cap

The UK-based mid-market fund manager sent out PPMs last July with a headline target of $750m and a hard-cap of $840m. Having reached its hard-cap, the GP also made a commitment of $21m, bringing the total fund size to $861m.

The fund will invest in European companies involved in energy supply, with a concentration in oil-field equipment and services, and to a lesser degree, existing oil and gas reserves.

The firm acquired US-based Epic Midstream in April alongside White Deer Energy.

Approximately 70% of commitments came from the US with the rest coming from European and Asian LPs. University of Michigan committed $20m to the fund.

Blue Water was founded in 2011 by Graeme Sword, formerly head of oil and gas at 3i; Jerker Johansson, formerly CEO at UBS Investment Bank; and Thomas Sikorski, former managing director at First Reserve Corporation. The founders are supported by a six-strong team in-house as well as eight industrial partners.

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• Topics
• Fundraising
• United Kingdom