EnerVest fund reportedly loses essentially all value

A fund managed by Houston-based private equity firm EnerVest Ltd. has lost essentially all of its value, The Wall Street Journal reports.

The $2 billion fund, which focused on oil and gas, was started in 2013 and then borrowed $1.3 billion to extend its buying power, per the WSJ. Now, investors are expected to be left with at most pennies for every dollar invested, people familiar with the matter told the WSJ.

Wells Fargo & Co. is leading a group of investors in an effort to take control of the…

EnerVest fund reportedly loses essentially all value syndicated post

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