Scotiabank’s Waterous Leaving to Start Private Equity Fund
- New $305 million fund focused on unconventional oil and gas
- Waterous Energy aiming for control positions in North America
An oil pumpjack works at dawn in the Permian Basin oil field in the oil town of Andrews, Texas.
Photographer: Spencer Platt/Getty ImagesThis article is for subscribers only.
Bank of Nova Scotia’s global head of energy, Adam Waterous, is leaving to start a private equity fund focused on the oil and gas industry.
Waterous Energy has raised C$400 million ($305 million) from investors including Gordon Flatt to capitalize on emerging opportunities in the Canadian and U.S. energy industry, Waterous said in a phone interview Friday. The fund will target controlling positions in private, unconventional oil and gas companies in regions like the Montney and Permian basins.