GLOBE AND MAIL – Kern Partners’ new fund backs LNG project

Jeffrey Jones
CALGARY — The Globe and Mail
Published Last updated

Kern Partners, the Calgary-based private equity firm, has started up a new, $750-million energy fund that is partly focused on moving a British Columbia liquefied natural gas project forward as a way to help open up Asian markets for Canadian gas producers.

The new Kern fund, its fourth and largest to date, is aimed primarily at investing in diversified energy exploration and development, employing the same investment philosophy as the previous ones. That involves five-to-nine year investments with companies led by established management groups. But energy infrastructure and technology are also part of the mix, executives said.

Now in the process of raising funds, the firm is is already an investor in Steelhead LNG, a project proposed for Vancouver Island. This month, Steelhead and Huu-ay-aht First Nations signed a deal to co-operate on working toward building a plant at Sarita Bay, at the southern end of Alberni Inlet. It is one of at least 15 LNG projects proposed for Canada’s West Coast.

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