Tuesday, March 4, 2008

$4 Billion USD Investment for Oil and Natural Gas

Natural Gas Partners said it has closed on a $4 billion fund to invest in the oil and gas industry.

Since its founding in 1988, the private equity company has managed more than $7 billion of cumulative capital and made investments in over 130 companies in the oil and gas production, oilfield service, mid-stream and related energy sectors.

Natural Gas Partners said the new fund will engage in the same size and type of deals the company has made in the past.

"The fund has made ten investments to date, many of which are managed by experienced management teams from prior NGP portfolio companies, said William Quinn, the company's managing partner, in a statement. "Given our current investment pace and strong deal flow, we are glad to have raised a fund that is of sufficient size to allow us to continue to do this over the next several years."

The Natural Gas Partners funds are managed by Irving-based NGP Energy Capital Management. NGP Energy Capital Management's $9 billion in investments also includes NGP Capital Resources Co. (Nasdaq: NGPC), a publicly traded business development company with more than $400 million in capital; NGP Energy Technology Partners L.P. a $148 million fund investing in companies that provide technology-related products and services to the oil and gas, power and alternative energy sectors; and NGP Midstream and Resources L.P., a $1.4 billion fund that invests in selected areas of the energy infrastructure and mineral businesses.

No comments: