Kimmeridge closes sixth E&P-focused fund with over US$1bn capital commitements

Kimmeridge, an alternative asset manager focused on the energy sector, has achieved the final closing of its Kimmeridge Fund VI and related vehicles, receiving more than US$1 billion in new capital commitments.

Fund VI is 25% larger than Fund V (2019) and represents one of the few North American oil and gas funds that have closed on US$1 billion or more over the last five years. The Fund, which will identify, acquire, and develop unconventional assets across top-producing basins in North America, received support from institutional investors including endowments, foundations, public pensions, family offices, and sovereign wealth funds.

Since the Firm's inception in 2012, Kimmeridge has raised over $5 billion of limited partner commitments across 10 distinct funds, including its Carbon Solutions and Engagement strategies. Fund VI is the latest iteration of the Firm's flagship strategy, where each subsequent vintage has increased in size. Fund VI is actively being deployed, in line with Kimmeridge's track record of deploying 70% of capital, on average, within the first two years of a fund's initial close, and the intent of returning that capital quickly.

Kimmeridge did not use a placement agent, as fundraising was led by Neda Jafar, a long-standing Partner of the Firm. Schulte Roth & Zabel LLP served as fund counsel.