Fortress and IOG close Oil & Gas investment partnership
IOG Capital, L.P. has closed US$330 million oil & gas investment partnership with funds and accounts managed by affiliates of Fortress Investment Group LLC.
This new partnership will complement the similarly-sized partnership established with Metalmark Capital in September 2014.
IOG Capital is a private investment firm located in Dallas, Texas with over US$700 million of deployable capital. The firm provides funding solutions to the US onshore oil and gas industry for acquisitions and development drilling through joint ventures and non-operated asset level investment.
The firm is led by Founder and Senior Managing Director, Marc Rowland, who previously served in senior executive positions with Chesapeake Energy Corporation (1993-2010) and FTS International (2010-2012). Mr. Rowland commented:
“IOG’s partnership with highly regarded investment managers such as Fortress and Metalmark allow us to provide a variety of capital solutions to established operators and other working interest owners.”
Fortress Investment Group LLC is a leading, highly diversified global investment firm with approximately $69.9 billion in assets under management as of March 31, 2015. Founded in 1998, Fortress manages assets on behalf of over 1,600 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds and traditional asset management strategies.
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