LPs endorse Kerogen’s Asia energy strategy
Barely 48 hours before Kerogen Capital announced a final close of just over $1 billion for its debut fund, the PE firm received two endorsements of its investment thesis. First, CNOOC agreed to buy Canadian oil and gas major Nexen for $15.1 billion plus debt. Second, Sinopec finalized a $1.5 billion deal for a 49% interest in Talisman Energy’s North Sea assets.
Kerogen, which has a technical services agreement with CNOOC, targets oil and gas assets globally with one eye on potential exits to Asian national oil companies (NOCs). It is a strategy that hinges on...
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