Andros Capital Partners closed Andros Energy Capital III LP at its $1bn hard cap, marking the latest step in its strategy to deploy flexible private equity capital across the US energy value chain.

The fund will pursue private equity investments, credit opportunities, and direct asset-level transactions in the oil and gas sector. Andros maintains a flexible investment mandate, enabling it to invest across the capital structure in both public and private equity and debt instruments.

“We are humbled by the continued support of our investors, grateful for the dynamic partnerships we have established across the industry and very excited about this next chapter of growth,” said Phillip A. Gayle, Jr., Founder and Managing Partner at Andros.

Since its inception, the firm has executed a wide range of energy-focused transactions including upstream M&A, management-led buyouts, GP-led continuation vehicles, second-lien financings, joint ventures, and mineral and royalty acquisitions across most major US basins.

The closing of Fund III comes as private equity interest in energy assets remains resilient. Andros continues to back what it describes as the long-term durability of hydrocarbon demand and is positioning itself to scale acquisitions and development activity accordingly.

Andros received legal counsel from Gibson Dunn & Crutcher LLP for Fund III. Notably, the firm did not use a placement agent or external advisor for the capital raise.