Davis Polk partner and Investment Management practice head Leor Landa discussed with Bloomberg the fundraising environment for private equity firms focused on the energy sector. As fundraising slows and the firms look to branch out to other sources of capital, Leor noted that some are taking advantage of continuation funds, which allow them to move assets into new vehicles while providing a liquidity option for existing investors.

“It brings in new money and also allows existing investors to stay in if they want to,” Leor said. “It’s a way to extend the timelines of investments for general partners.”

“Energy Buyout Firms Curb Fundraising Goals, Seek Workarounds,” Bloomberg (July 13, 2023) (subscription required)

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