Baker Botts Advises NexTen LP in $85 Million Fund Closing
Deal description: Veriten, an energy research, investing, and strategy firm, announced the closing of its debut fund, NexTen LP (“NexTen”), with $85 million in committed capital. The NexTen fund is highly complementary to Veriten’s mission of identifying and advancing reliable, sustainable, scalable, and economically viable solutions with minimal environmental impact in a constantly evolving and volatile energy landscape.
The fund has made five investments to date, partnering with high-quality businesses that align with Veriten’s views on the direction of energy over the next decade. Participants in the NexTen fund include select energy companies and financial institutions, current and former energy operations and finance professionals, family offices, and Veriten team members.
The firm’s leadership is comprised of its founder, Maynard Holt, Co-Founder and former CEO of the energy investment bank Tudor, Pickering, Holt & Co. (TPH), along with Jeff Tillery, former head of TPH Research, Arjun Murti, former head of Goldman Sachs Research, Mike Bradley, former head of TPH Capital Markets, and Todd Scruggs, former Treasurer and Vice President of Corporate Development at WPX Energy.
Baker Botts L.L.P. served as legal counsel for NexTen.
Veriten’s press release can be found here.
Baker Botts Lawyers/Offices Involved:
Corporate: Bryan Henderson (Partner, Dallas), Jay Gould (Special Counsel, San Francisco), Josh Gonzales (Senior Associate, Houston), Michael Donnellan (Associate, Houston)
Tax: Steve Marcus (Partner, Dallas)
Executive Compensation: Jason Loden (Partner, Dallas)
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