Lex Capital Management Inc. has held an initial close of its most recent fund, Lex Energy Partners LP IV, with $127.55 million in capital commitments.
Fund IV limited partners (LPs) include high net worth individuals, foundations, family offices and institutional investors from British Columbia, Saskatchewan, Alberta, Ontario, Manitoba, and USA.
Regina, Saskatchewan based Lex Capital is a private equity firm focusing on investments in early-stage oil companies operating in Western Canada. Lex has raised in excess of $417 million across its four energy funds and one diversified fund since inception in 2009.
photo credit: Lex Capital
Lex raises in excess of $127.5 million on first close
REGINA, SK January 3, 2019 /CNW/ – Lex Capital Management Inc. (“Lex”) is pleased to announce that the initial close of its most recent fund, Lex Energy Partners LP IV (“Fund IV”), secured $127.55 million in capital commitments.
Fund IV, received strong backing from a diverse group of investors, including high net worth individuals, foundations, family offices and institutional investors located across Canada and the United States.
Lex is a Regina-based private equity firm that specializes in investments in early-stage oil companies operating in Western Canada. Since inception in 2009, Lex has now raised in excess of $417 million across its four energy funds and one diversified fund. “We are gratified by the continued confidence in Lex demonstrated by our investors,” said Dean Popil, CEO & Managing Partner of Lex. “To be able to achieve an exceptionally strong first close, despite the price of oil declining to 14 month lows during our marketing period, highlights the confidence that our investors have in both our team and in the longer term outlook for oil.”
E. Craig Lothian, Lex’s Executive Chair, said: “We are excited to source and fund new management teams and opportunities, in what is at or near the bottom of the commodity price cycle.” Mr. Lothian further indicated: “Despite the continuing level of anti-oil narrative and current lack of pipeline capacity, investors, especially institutional investors, were able to ignore the headlines and focus on the underlying economics and fundamentals.”
About Lex Capital Management Inc. (www.lexcapital.ca)
Lex Capital Management Inc. is a private equity firm that invests in high growth, early-stage resource opportunities in the Canadian energy sector.
SOURCE: Lex Capital Management Inc.
For further information: E. Craig Lothian, Exec. Chair, 306.790.4152, firstname.lastname@example.org;
– or- Dean Popil, CEO & Managing Partner, 306.790.8658, email@example.com
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