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HitecVision completes fundraising and reaches hard cap of USD 1.9 billion in two months

HitecVision completes fundraising for HitecVision VII and reached the hard cap of USD 1.9 billion, exceeding the USD 1.5 billion target. With strong support from existing investors and three new investors the hard cap was reached in two months following the launch in February 2014.

HitecVision, the leading European private equity investor focused on the oil and gas industry, is pleased to announce that it has received commitments of USD 1.9 billion for its new fund HitecVision VII L.P., exceeding the USD 1.5 billion target. The strong interest from existing and new investors attests to HitecVision’s value creation model in the oil and gas industry. With the new Fund HitecVision now manages USD 5 billion of institutional capital.

The Fund has attracted strong support from existing blue chip investors and three new investors, resulting in a well diversified investor base comprising pension funds, financial institutions, sovereign wealth funds, university endowments, family offices and charitable foundations. Among the Fund’s investors are: Adams Street Partners, Argentum, ATP PEP, Commonfund Capital, DNB, Goldman Sachs Asset Management, HarbourVest, The Hillman Company,  KEVA, KLP, LGT, New Jersey Common Pension Fund, Nordea, Partners Group and Storebrand.  In addition to the commitments from institutional investors, HitecVision and associate entities have committed USD 100 million to the Fund.

The Fund will continue to build on HitecVision’s successful serial entrepreneurial model in the oil and gas industry, implemented by the team throughout the firm’s history, combining extensive operational experience from the petroleum sector with strong transactional and financial competence.