HOUSTON (WO) — Carnelian Power Capital Administration, L.P. has closed its Canada-focused Carnelian Acquisition and Improvement fund (CAD) on the arduous cap of $600 million in restricted accomplice commitments. The only-closing fund was oversubscribed, reflecting continued investor curiosity in upstream alternatives north of the border.
“We’re immensely grateful for the robust help and belief of our traders as we shut this distinctive car centered on scaled and opportunistic power investments in Canada,” stated Tomas Ackerman, Carnelian Companion. “We’ve got been long-time traders within the Canadian market and are wanting ahead to persevering with our profitable observe document of sponsorship and worth creation. We’re honored to accomplice with Dustin Hoffman and Dan van Kessel and all the Refraction Power staff as our anchor companions in CAD.”
Based in 2015, Houston-based Carnelian manages a household of personal fairness funds concentrating on North American power investments. The agency has raised about $4.6 billion since inception and shaped partnerships with 39 portfolio corporations.
“The Canadian upstream area offers extremely compelling funding alternatives. Capital shortage mixed with plentiful and financial improvement stock underpin a good risk-reward stability for CAD,” stated Dillon MacDonald, Carnelian Managing Director. “We’re excited concerning the alternative set forward of us and stay up for using our confirmed methods to proceed creating worth for our traders.”
