DALLAS – Falcon E&P Opportunities GP, LLC (“Falcon”), a company specializing in direct onshore oil and gas investments, today announced that its Falcon E&P Opportunities, Fund, L.P. had a final close with $163.2 million in capital commitments. Falcon is a joint venture between PetroCap and HCMS Falcon, L.P., an affiliate of Highland Capital Management, L.P. (“Highland”).
The Falcon E&P Opportunities Fund, L.P. has a unique investment strategy designed to generate both current income and long-term capital appreciation by making direct investments in onshore oil and gas assets. The fund has already returned approximately 10% of current capital calls through quarterly distributions to their investors and has so far committed over $60 million in acquiring oil and gas properties in Texas, Kansas, and Wyoming.
“We are bullish on gas and oil long term, as the supply and demand fundamentals are skewed to the upside,” said Doug Evans, Managing Director for Falcon and a Principal at PetroCap. “However, we have an active hedge program in place to provide downside protection.”
“We continue to see attractive opportunities to partner with independent operators to grow their current projects or make acquisitions,” said Lane Britain, Managing Director for Falcon and Partner at Highland.
ABOUT FALCON E&P OPPORTUNITIES GP, LLC
Falcon E&P Opportunities GP, LLC specializes in direct investments in onshore oil and gas assets located in the continental United States. Falcon is a joint venture between PetroCap and HCMS Falcon, L.P., an affiliate of Highland Capital Management, L.P. For further information, please visit www.feplp.com.
PetroCap is an oil and gas investment firm. Founded in 1992, PetroCap and its affiliates manage investments in energy projects on behalf of the firm’s principals and other investors. PetroCap also provides operating services to its own and outside projects through Kestrel Resources Inc. PetroCap is headquartered in Dallas, TX. For further information, please visit www.petrocap.com.
ABOUT HIGHLAND CAPITAL MANAGEMENT, L.P.
Highland Capital Management, L.P. is an SEC-registered investment adviser which, together with its affiliates, has approximately $23 billion of assets under management. It is one of the largest and most experienced global alternative credit managers. The firm specializes in credit strategies, such as credit hedge funds, long-only funds and separate accounts, distressed control private equity, and collateralized loan obligations (CLOs). Highland also offers alternative investments, including emerging markets, long/short equities, and natural resources.
Highland’s diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, and high net-worth individuals. The firm is headquartered in Dallas, Texas and maintains offices in New York, London, Singapore, and Seoul. For further information, please visit www.hcmlp.com.