Jones Day acted for Singapore’s state investment fund Temasek Holdings in an investment in Venari Resources, an early-stage exploration company focused on deep water oil in the Gulf of Mexico.

Temasek was part of a consortium of investors, which included private equity firms Warburg Pincus, Kelso & Company, and The Jordan Company. The firms pumped a total of $1.125 billion into Venari.

The investment is the latest in a string of deals that has seen Asian private equity firms invest billions in energy companies in an effort to supply energy-hungry Asian markets.

Last week, Thailand’s PTT Exploration & Production acquired Africa-focused Cove Energy as part of efforts to secure energy to power the country’s economy. PTT outbid Royal Dutch Shell’s offer of $1.8 billion for Cove. Two weeks back, Temasek and private equity firm RRJ announced a $468 million investment in U.S.-based Cheniere Energy to help fund the first liquefied natural gas (LNG) export plant in the U.S., which aims to tap LNG demand in Asian markets. Temasek was also advised by Jones Day on the deal.

The Jones Day team on the Venari deal was led by partners Dennis Barsky and Michael Arruda, based in Singapore and Hong Kong respectively. Thompson Knight advised Venari Resources on the transaction, Vinson & Elkins advised Warburg Pincus, Kelso & Co hired Debevoise & Plimpton LLP and Jordan retained Mayer Brown. ALB

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