Carnelian Energy Capital Management LP closed its oversubscribed and upsized fourth fund, Carnelian Energy Capital IV LP, with $975 million of capital commitments.

“We are excited by the opportunities we see across the energy landscape,” Tomas Ackerman, Carnelian Partner, commented in an April 12 release.

Houston-based Carnelian is an energy investment firm managing a family of private equity funds focused on investments across the North American energy sector.

“Capital scarcity and underinvestment in traditional forms of energy, against a backdrop of resilient global demand, underpins a favorable risk-reward balance in the natural resources space,” Ackerman said. “At the same time, continuing advancements in decarbonization provide compelling and differentiated growth equity opportunities for the funds we manage.”

Founded in 2015, Carnelian Energy Capital has approximately $2.8 billion of cumulative capital commitments, according to the release.

“We are humbled by the support and partnership from our investors who have chosen to be engaged stakeholders in meeting the world’s critical energy needs in an environmentally-responsible way,” Daniel Goodman, Carnelian Partner, also added.

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