Private equity has US$1 trillion warchest for oil deals

Oil and gas rebound: PE funds, including Blackstones, have all set up management teams in recent years to acquire and manage oil and gas assets. – Reuters

LONDON: The world’s private equity funds, with a cash pile of around US$1 trillion, are stepping up their interest in the oil and gas industry, with almost a half expecting to buy assets in the sector over the next year, a survey showed.

Funds’ appetite for investments in the sector fell sharply after the start of the oil price route two years ago.