As part of a funding round of USD20 mln initiated by Turkey-focused oil and natural gas company Aladdin Middle East (AME), 4D Global Energy Advisors have invested USD17 mln through its Fund III. The remainder of the funding was provided by the founders of AME, who continue to be majority stakeholders in the company. The funding will primarily be used to expand its exploration and production capabilities in Turkey’s Northwest and Southeast regions.
Aladdin Middle East is a primarily Turkey-based oil and natural gas exploration and production corporation with corporate headquarters in the State of Kansas, USA and operations HQ in Ankara. The firm was founded in 1962 and has been instrumental in changing the investment landscape in the Turkish P&E segment. The company currently holds over 440,000 hectares in the Thrace Basin and North Arabian Shield in Turkey, with an equally distributed portfolio of production and exploration assets.
4D Global Energy Advisors was set up in 2001 by Société Générale Asset Management. Its objective is to make investments in the hydrocarbons value chain across the globe. Past funds include Fund I closed in 2003 at USD81 mln and Fund II closed in 2007 at USD181 mln. Its most recent fund – Fund III – closed in 2010 at USD216 mln and has completed one exit out of six major investments.
Source – Invest-IQ
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