Canaan Resource Partners has directed and managed energy investments through a number of current and predecessor investment vehicles since 1990. Funds currently under management serve institutional level private equity investors including endowments, foundations, fund of funds, retirement plans and family offices.
Canaan Resource Partners Drilling Fund LP was formed in 2015 and is currently in the investment phase. A changing energy investment climate driven by the Shale Revolution mandated the formation of the fund, which serves as a capital provider for upstream shale drilling efforts. A discussion of the investment philosophy employed by Canaan Resource Partners Drilling Fund LP can be found in the Strategy section.
Canaan Natural Gas Fund IX LP and Canaan Natural Gas Fund X LP have vintage years of 2005 and 2008, respectively. Affiliated entities of Canaan Resource Partners serve as the general partners of the two funds, and both are closed to investment. Each was formed under a risk-averse, acquire-and-exploit investment strategy. The same strategy was also employed in eight prior funds from 1990-96, culminating in the combination of the funds via an exchange offer into Canaan Energy Corporation (Nasdaq:KNAN). Canaan Energy Corporation’s outstanding shares were purchased by Chesapeake Energy Corporation in June 2002, providing the final exit for the limited partners of the first eight funds.