More than $10 Billion of Available Capital for its Energy Platform
Carlyle International Energy Partners, an energy fund for The Carlyle Group (ticker: CG), announced it had raised $2.5 billion for its first international energy fund. The raising is the largest first-time fund in the 28-year history history of The Carlyle Group, which consisted of 128 funds and $194 billion of assets at year-end 2014.
The Group invests in four segments, including private equity, real assets, global market strategies and investment solutions. Its energy platform has $10 billion in available capital for all three segments of the industry in Europe, Africa, North America, Latin America and Asia.
“This is one of the best energy investing environments I have seen in more than 30 years,” said Marcel van Poecke, leader of the international energy team, in a press release issued by the company on March 20, 2015. “Carlyle’s broad energy platform plus a significant amount of dry powder enables us to leverage current opportunities and market volatility across the global energy markets.”
NGP Energy Capital Management Fueling Fund Growth
The Group operates in the United States as a partner with NGP Energy Capital Management, who owns 45% of the Group’s management fee-related revenues.
NGP Energy Capital Management closed a $5.3 billion raise in January. That raise was the 11th in the firm’s 27-year history. NGP Energy Capital Management’s three primary investment platforms include Natural Gas Partners, NGP Global Agribusiness Partners, and NGP Energy Technology Partners, L.P. Combined, the NGP platforms have approximately $14 billion under management.
“We were the original investor in Energy Transfer Partners [ticker: ETP],” said Ken Hersh, Chief Executive Officer of NGP, in a January interview with Oil & Gas 360®. “We look to align with entrepreneurial management teams who have a strong business plan, and we will go where they lead us.”
Hersh said the size of the deals range from just $20 million to as much as $500 million, and the firm “Operates with a very wide and blank canvas” in regards to the companies it selects. “Our investment team at NGP is composed of more than 60 people—many of them measure their experience with us in decades, rather than years, so we’re pretty experienced at uncovering good opportunities,” he said.
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