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NGP Energy Capital Management closes USD5.325bn PE fund

NGP Energy Capital Management (NGP) has held the final closing of NGP Natural Resources XI at its hard cap of USD5.325 billion. 

NGP XI will continue NGP’s 26-year history as a premier provider of private capital and sponsorship to the natural resources industry, focusing on the oil and gas production, oilfield services, and energy midstream sectors through its Natural Gas Partners investment platform. NGP XI will be managed by NGP, bringing the cumulative committed capital under management since 1988 to USD16.5 billion.

Kenneth A Hersh, Chief Executive Officer, says: “We are extremely thankful for the ongoing loyalty and support of our investors and appreciate the confidence placed in our team by both our existing partners and new investors. We believe that their support is a testament to over two and a half decades of industry-leading investment returns and the strong fundamentals in the natural resources investment arena.”

Tony R Weber, Chief Operating Officer, says: “We are very pleased with the amount of capital raised during the past year. NGP XI will invest in the same size deals that our track record has been built upon, and the fund is of sufficient size to allow us to continue our core investment business over the next several years. It is also hard to imagine more favourable timing for closing a new fund. NGP XI is extremely well positioned to take advantage of investment opportunities created by the recent upheaval in the energy markets.”

In addition to Natural Gas Partners, NGP’s investment platform includes NGP Global Agribusiness Partners, which makes direct equity investments in food, feed and industrial product companies within the agribusiness supply chain, and NGP Energy Technology Partners, which provides capital for growth and buyouts in companies providing technology-related products and services to the oilfield services, alternative energy and energy efficiency sectors.

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