Firm: TCW Energy Partners LLC
Fund: TCW Energy Fund XV
Target: $2.5 billion target; $3.5 billion hard cap
Amount Raised So Far: $1.2 billion
Placement Agent: Credit Suisse Securities (USA) LLC
Fund XV will “have a 100 percent offset for all transaction, break-up and other deal-related fees. Previous funds had an 80 percent offset,” Dow Jones reported in August.
The firm makes global oil, gas and electric private placement debt and equity investments, including mezzanine loans, equity investments, production payments and royalty interests, and focuses on engineering and development risk, not geological and exploration risk. The group’s typical investment is in the $100 million to $200 million range.
Its predecessor vehicle closed in 2008 with $2.6 billion, which the firm invested in North America, Western Europe and Australia. About a quarter of the capital raised for Fund XIV came from non-U.S. institutions in 11 countries; TCW’s employees provided $68 million. The
R. Blair Thomas is the CEO of TCW’s energy business, which has almost $11 billion of capital invested and more than 250 portfolio investments in 33 countries. The TCW Energy & Infrastructure Group has 38 investment professionals in Houston, New York, Washington D.C., London and Sydney.