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The recovery of oil prices has boosted the attractiveness of the asset class, according to analysis by intermediary Setter Capital.
The niche investor's second fund has hit €64m as it aims for double the amount raised for its debut vehicle in 2015.
The firm is also giving up its plans to raise a dedicated energy and infrastructure secondaries fund, instead rolling its efforts into its broader secondaries business.
If 2015 was the year of real estate secondaries, 2016 could be the year energy transactions come into their own.
This is at least the third time the Blackstone secondaries unit has bought a stake in Doughty Hanson & Co. III, which has only one remaining investment.
Another slump in oil prices and a rise in primary deals is leading some to believe that energy secondaries activity could pick up early next year.
Bids for the two fund types were on average lower than for buyout and real estate funds, according to a new report.
Secondaries buyers and sellers are waiting for more clarity on the impact of the fall in oil prices on energy-focused funds, but opportunities remain in some pockets of the market.
Pricing in the secondary market has begun to plateau but remains strong, despite a declining Euro and volatile oil prices, according to Greenhill Cogent’s first quarter secondary briefing.
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