Double Eagle Expands with $2.5 Billion Commitment for New Ventures
Deal News | Apr 02, 2025 | EnCap Investments
EnCap Investments L.P., a leading energy sector growth capital provider, has expanded its strategic partnership with the Double Eagle companies by forming Double Eagle Energy Holdings V, LLC and Tumbleweed Royalty V, LLC, backed by $2.5 billion in equity commitments. Based in Fort Worth, Texas, the new entities will concentrate on the oil and gas sector within the Permian Basin, one of the most prolific regions in the U.S. Cody Campbell and John Sellers will continue their leadership as Co-Chief Executive Officers. The new ventures include participation from Elda River Capital Management, affiliates of Apollo Global Management, and other institutional partners. This continues Double Eagle's successful track record, aiming for robust growth in the U.S. energy market.
Sectors
- Energy
- Private Equity
Geography
- United States – The focus is on investments within the U.S., specifically related to oil and gas properties across the U.S. basins.
- Texas – Double Eagle is headquartered in Fort Worth, Texas, a central location related to the activities described in the article.
Industry
- Energy – The article discusses investments in oil and gas resources, specifically in the Permian Basin, indicating a focus on the energy sector.
- Private Equity – EnCap Investments is a private equity firm investing in the growth of independent energy companies, meaning the article touches on private equity activities.
Financials
- $2.5 Billion – The total equity committed for the formation of Double Eagle Energy Holdings V and Tumbleweed Royalty V.
- $47 Billion – Total funds raised by EnCap Investments from 25 institutional funds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EnCap Investments L.P. | Private Equity Firm | Company | A leading provider of growth capital in the U.S. energy sector, supporting the formation of Double Eagle V and Tumbleweed V. |
| Double Eagle Energy Holdings V, LLC | Target Company | Company | A newly formed entity focusing on investing in oil and gas properties in the Permian Basin. |
| Tumbleweed Royalty V, LLC | Target Company | Company | A newly formed entity focusing on royalty and mineral investments across U.S. basins, primarily the Permian. |
| Cody Campbell | Co-Chief Executive Officer | Person | Co-Chief Executive Officer of Double Eagle Energy. |
| John Sellers | Co-Chief Executive Officer | Person | Co-Chief Executive Officer of Double Eagle Energy. |
| Elda River Capital Management | Investment Partner | Company | A strategic institutional partner supporting the new ventures. |
| Apollo Global Management, Inc. | Investment Partner | Company | An affiliate investment partner in the new ventures. |