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Quantum Closes $1.32B Energy-Directed Fund

QEM Management LP (Quantum) said Tuesday that it has closed Quantum Energy Partners IV LP (QEP IV), a $1.32 billion private equity fund dedicated to the energy industry. QEP IV is Quantum's fourth private equity fund launched since 1998.

Quantum will primarily target investments in the oil and gas sector while also considering opportunities in the midstream, oil field service, coal, power and alternative energy sectors, the Houston-based company said. Quantum's strategy is to make $25 million to $150 million investments in entrepreneurial management teams that demonstrate competitive advantages within a well defined segment of the energy industry and that are focused on building assets or companies that serve as either platform companies to take public or as attractive acquisition candidates for larger energy companies.

In December Quantum Energy Partners was part of an investment group, which also includes Carlyle/Riverstone and Lime Rock Partners, that provided $470 million in equity commitments to Denver-based Vantage Energy LLC, a private oil and gas company created last year by the former president of EnCana Oil & Gas USA Inc. and the former CFO of Bill Barrett Corp. (see Daily GPI, Dec. 20, 2006).

Quantum has more than $3.2 billion in capital under management, of which $2 billion is in its family of private equity funds and $1.2 billion is co-managed with Aspect Energy LLC in its direct property acquisition fund, Quantum Resources.

Greenwich, CT-based Champlain Advisors, LLC, a global fund placement and investor relations advisory firm, served as Quantum's financial advisor in raising the fund.

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