Warburg Pincus and The Blackstone Group, the US private equity firms, have committed $300m to Kosmos Energy, an oil exploration and production start-up focusing on Africa. Details were not disclosed, but sources close to the deal said Warburg Pincus led the financing, pledging around $165m. Blackstone has committed around $135m.

Kosmos was founded in August 2003 by senior executives of Triton Energy. James C. Musselman, chairman and chief executive of Kosmos is former chief executive of Triton Energy, and Brian Maxted, previously senior vice-president of exploration.