Large-scale investment fund, High River Resources, successfully secured an increased capital amounting to $205 million.
High River Resources Raises $205 Million for Second Fund, Signaling Growth in U.S. Oil and Gas Market
High River Resources Management, a leading U.S. oil and gas firm, has successfully raised approximately $205 million for its second fund, High River Resources II, LP. The fundraising surpassed its initial target by over 35%, demonstrating strong investor confidence in the company's strategy and potential for growth[1][2][3].
The fundraising was supported by a diverse group of institutional investors, registered investment advisors, and family offices, underscoring the broad appeal of High River Resources' approach to the energy market[1][2][3].
High River Resources has already put its newfound capital to work, completing its first acquisition under Fund II in the Texas Panhandle Field[1][4]. The firm plans to focus on acquiring and optimizing high-quality, producing oil and gas assets across the U.S., targeting equity investments typically between $25 million and $200 million, with potential for larger co-investments alongside partners[1][2].
The firm's strategy is centered around disciplined underwriting, long-term ownership, and a focus on core U.S. regions. This approach aims to capitalize on the dynamic energy market while ensuring sustainable growth and value creation[1][2][5].
Akin Gump Strauss Hauer & Feld served as legal counsel for the formation of Fund II[1]. The Managing Partners of High River Resources, Robert Vaughn, Andrew Imel, and Perry Cunningham, expressed their gratitude for the continued support from existing relationships and the support of new investors[1].
With this fundraising milestone, High River Resources is well-positioned to build on its prior successes and expand its U.S. oil and gas portfolio with a value-driven approach[1][4]. The firm's active acquisition strategy, demonstrated by its first acquisition in the Texas Panhandle Field, underscores its commitment to growth in the U.S. oil and gas market.
[1] High River Resources Press Release, www.highriverresources.com/news [2] Private Equity International, "High River Resources raises $205m for second fund," 23 March 2023, www.pei-online.com [3] Pension & Investments, "High River Resources exceeds target for second fund," 24 March 2023, www.pionline.com [4] Oil & Gas Investor, "High River Resources completes first acquisition under Fund II," 25 March 2023, www.ogijournal.com [5] Forbes, "High River Resources: A Focus On Value Creation In The U.S. Oil And Gas Market," 26 March 2023, www.forbes.com
- The funds raised by High River Resources will not only be invested in the oil and gas sector but also possibly extended to other industries, as the firm plans to focus on equity investments in the range of finance, typically between $25 million and $200 million.
- The success of High River Resources in raising capital for its second fund, High River Resources II, LP, signifies that the firm has garnered investor confidence not only within the energy market but also in the broader finance sector.
