The continuation fund, managed by Victory Hill, will hold two operating liquid storage terminals in the Port of Brownsville.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The UK accountancy group is reportedly valued at more than £1 billion, with Penta retaining management of the asset after abandoning an earlier sale.
The oversubscribed vehicle holds 134,000 net royalty acres in the Permian Basin, generating approximately 37,000 barrels of oil equivalent per day.
The single-asset vehicle for Dutch technical services provider VDK saw investors representing more than 40% of EMK Fund I's capital elect to roll over.
The vehicle is set to acquire the firm's 20% stake in the asset, reportedly valued at around €170 million.
The single-asset vehicle extends the firm's ownership of a German adult-education platform which it first backed in 2020.
The deal would reportedly shift the vehicle's assets into a closed-end structure and trigger a delisting.
The 15-asset vehicle, among the largest GP-led infrastructure deals to date, drew more than $7 billion of demand and included around $2.5 billion of new capital.
The single-asset vehicle increased the Spanish manager's stake in an energy transition platform.
