Quantum Energy Partners, one of the biggest private equity players in the U.S. shale patch, said a senior partner has stepped back after over 10 years at the firm. Dheeraj Verma, president of Quantum beginning around 2017, has turned into a senior counselor, allowing the 44-year-old more opportunity to rethink his life needs and invest more time with family, originator and Chief Executive Officer Wil VanLoh said in an interview Wednesday. Verma, who is known as “D,” joined the Houston-based firm in 2008 and was most as of late capable, close by VanLoh, for driving its investment strategy and capital allocation processes.
“Covid caused everybody to re-evaluate things,” VanLoh said. “By someone like D kind of moving out of the way, that gives more upward mobility, more economics, for the next generation of guys, and that’s good for the firm.”
Verma didn’t respond to an email message left at the firm seeking comment.
After selling DoublePoint Energy LLC to Pioneer Natural Resources Co. for $6.4 billion last year, Quantum is seeking another three or four more exits from portfolio companies this year, each in the multibillion-dollar range, VanLoh said.
Quantum, founded in 1998, has managed more than $17 billion since its inception. The firm, with stakes in companies including software firm Datagration Solutions Inc. and shale producer Vantage Energy, raised $5.6 billion for its seventh fund in 2018, according to data compiled by Bloomberg.
The firm also has hired Rob Anderson from Jefferies Financial Group Inc., where he was co-head of the bank’s leverage finance group, VanLoh said.
$4 Billion Valuation
Verma has also been a managing director, serving on Quantum’s executive and investment committees, in addition to finding investments. During his tenure, Quantum sold a minority interest in the firm to Dyal Capital Partners in 2020, valuing Quantum at more than $4 billion. VanLoh said he’s in no rush to name a new president of the firm.
“We’ve got a super-deep bench,” he said. “There’s other people picking up responsibilities that he was doing.”
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