Warburg Pincus Leads $1.1B Investment In Gulf Oil Startup

Law360, New York (May 23, 2012, 4:31 PM EDT) -- Four private equity firms, led by Warburg Pincus LLC, have agreed to pour up to $1.13 billion into a new deepwater oil exploration venture that plans to cash in on the Gulf of Mexico's oil-rich subsalt plays, they said Tuesday.

Kelso & Co., Temasek and The Jordan Co. join Warburg Pincus in dedicating funds for Dallas-based Venari Resources LLC, which called the deal one of the largest-ever private investments for a startup in the oil and gas industry.

Venari declined to disclose how the venture's ownership...
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