CIPEF and the Queiroz Galvão Family Invest US$300 Million in QGOG Constellation (Latin America)

Source: QGOG Constellation

Global emerging markets investor Capital International Private Equity Funds (CIPEF) has invested US$250 million in Brazil-based QGOG Constellation, a provider of offshore and onshore oil and gas contract drilling. The Queiroz Galvão family, the controlling shareholder of QGOG Constellation, will contribute another US$50 million by mid-September, bringing the total investment to US$300 million. The transaction was structured through CIPEF VI. CIPEF originally invested in QGOG Constellation in June 2010. The company intends to use the capital injection to fund new investments, including an ultra-deep water drillship currently under construction.