The vehicle involves a portfolio of Bakken oil and gas properties previously held in the manager's 2014-vintage Fund III.
GIC is reportedly a prospective investor in the continuation fund, which values the South Korean gas manufacturer at $3.18 billion, up 13.5% from 2023.
The oversubscribed vehicle holds 134,000 net royalty acres in the Permian Basin, generating approximately 37,000 barrels of oil equivalent per day.
GCM Grosvenor, Ardian, StepStone, North Hudson Resource Partners, and Phoenix Insurance anchored the single-asset vehicle for energy infrastructure company Next Wave.
The Jefferies-advised deal extends the firm's ownership over a portfolio of properties from its 2015-vintage White Rock Fund II platform.
The continuation fund, managed by Victory Hill, will hold two operating liquid storage terminals in the Port of Brownsville.
The Connecticut-based manager specializes in energy infrastructure investments, including renewable power generation, battery storage, and midstream and downstream assets.
The single-asset CV was executed alongside the sale of a 50% stake in the Peruvian power generation company to CPP Investments.
The single-asset vehicle centers on a midstream energy platform that the firm initially backed in 2017 through Five Point Capital Midstream Fund II.
The single-asset vehicle extends the infrastructure specialist's hold on a Peruvian private power generation company.
