HOUSTON--(BUSINESS WIRE)--TPG Sixth Street Partners (“TPG Sixth Street”), a global finance and investment business with over $30 billion in assets under management, and Glendale Energy Ventures, LLC (“Glendale”), a private energy company headquartered in Houston, today announced a new oil and gas investment partnership with an initial $500 million in capital commitments. The new partnership will use its flexible capital mandate to directly invest in the development and acquisition of upstream oil and gas assets across the United States.
Glendale will work closely with TPG Sixth Street’s Houston-based energy team to provide capital solutions to operators by structuring investments in non-operated interests and operated-by-others (OBO) acquisitions.
“We are pleased to be partnering with Glendale’s experienced team of oil and gas industry veterans in order to provide operators with the expertise, certainty and stable capital required to meet their short and long-term strategic needs,” said Matt Dillard, Partner at TPG Sixth Street.
Glendale is led by Co-Founders Brent Grundberg and Vignesh Proddaturi.
Mr. Grundberg commented, “We believe there is more demand than ever for partnership capital to allow operators to achieve their full-scale development plans.”
Mr. Proddaturi added, “We look forward to building upon our existing relationships, forming new collaborations with top-tier producers and being the partner of choice for non-operated capital budgets and OBO divestitures.”
The partnership has already deployed funds with the completion of $55 million in acquisitions of non-operated interests in drilling pads located in Oklahoma’s premier STACK play.
About TPG Sixth Street Partners
TPG Sixth Street Partners is
a global finance and investment business with over $30 billion in assets
under management. Co-founded in 2009 by Managing Partner Alan Waxman and
TPG Sixth Street’s management team, the firm’s long-term oriented,
highly flexible capital base allows it to invest across industries,
geographies, capital structures and asset classes. TPG Sixth Street
focuses on partnering with businesses and management teams to create
fully committed financing solutions. The firm also makes investments in
both private and public companies and assets. TPG Sixth Street is in a
strategic partnership with TPG, the global alternative asset firm. For
more information, visit www.tssp.com.
About Glendale Energy Ventures
Glendale Energy Ventures is a
private oil and gas company based in Houston, Texas that makes direct
asset level investments in upstream oil and gas assets across the United
States. Glendale provides capital solutions to operators through joint
ventures, non-operated joint development partnerships, and non-operated
acquisitions. The firm focuses on acquisitions and investments in
de-risked onshore oil and gas resource plays and seeks to build long
term relationships with operators. Glendale evaluates acquisition
opportunities from all sources, but specifically focuses on non-marketed
assets. Glendale has established a thorough and efficient acquisition
process, creating seamless execution for quickly closing acquisitions.
For additional information, please visit glendalecap.com.
