32 Degrees Capital, a Calgary-based oil & gas investment firm, has completed the final closing of its new fund, 32 Degrees Diversified Energy Fund II, with $84.6 million of capital commitments. Thomas Capital Group served as placement agent for the fund. 32 Degrees Capital makes investments in partnership with management teams in early stage oil & gas companies and energy service, equipment and manufacturing businesses.
At the time of closing, the fund had already committed over $45 million through six transactions, which are split about equally between service and resource investments. The firm expects to make several additional investments through Fund II in the next six months and plans to be back in the market with Fund III in the first half of 2014.