Avant closes oversubscribed Fund II at over $1B for Permian Basin push
What's the deal? Avant Natural Resources has closed its second flagship fund, Fund II, with more than $1 billion in total equity capital commitments. The Denver-based investment firm said the fund and related vehicles hit their respective hard caps, oversubscribed.
Who's backing it? Avant secured commitments from legacy investors in its predecessor funds and added new institutional backers, including pensions, foundations, family offices, and asset managers.
What's the endgame? Fund II continues Avant's strategy of aggregating and developing upstream oil and gas assets and related infrastructure in the Permian Basin. Its investments already include control of more than 40,000 net acres in New Mexico, production from over 20 Avant-drilled horizontal wells, and exposure to natural gas and water infrastructure projects.
Why now? The close follows a strong track record. In early 2025, Avant sold Delaware Basin upstream and infrastructure assets to Coterra EnergyDealroom has a profile for this one. Try Dealroom → in an all-cash deal worth $1.45 billion.
What they're saying: "We are grateful for the continued confidence of our long-term partners and are pleased to welcome several new investors to the Avant platform," said Jacob Nagy, founder and co-chief executive officer. Co-founder and co-chief executive officer Skyler Gary added: "The Permian remains one of the most prolific oil and gas basins in the world, and we continue to see plenty of runway to execute on our aggregation strategy."
The signal: A billion-dollar oversubscribed raise for a fund focused squarely on Permian oil, gas, and infrastructure shows institutional appetite for upstream fossil fuel assets remains firm, even as capital flows increasingly toward alternative energy.
Read more: AP News
