Natural Gas Partners has closed its ninth fund with $4 billion in capital commitments. The an Irving, Texas-based private equity firm focuses on upstream energy assets, and already has committed around $550 million of the new fund for nine companies. Its prior fund closed on $1.3 billion in 2005.
Natural Gas Partners today announced the final closing of Natural Gas Partners IX, L.P. with total commitments of $4 billion. The fund will continue Natural Gas Partners' 20 year history as the premier provider of capital and sponsorship to the energy industry. Founded in 1988, the Natural Gas Partners private equity fund complex 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.
Kenneth A. Hersh, Chief Executive Officer, said: “We are extremely thankful for the ongoing loyalty and support of our investor base and appreciate the confidence placed in our team by both our existing partners and new investors. We believe that their support, which resulted in this fund being oversubscribed above its $4 billion hard-cap, is a testament to our industry-leading investment returns generated over the past two decades and the strong fundamentals in the energy investment arena.”
William J. Quinn, Managing Partner, continued: “NGP IX will do the same size and type deals that our track record has been built upon. The fund has made ten investments to date, many of which are managed by experienced management teams from prior NGP portfolio companies. 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 NGP Energy Capital Management, based in Irving Texas. In addition to the Natural Gas Partners complex, NGP Energy Capital Management's $9 billion investment platform includes NGP Capital Resources Company (NASDAQ: “NGPC”), a publicly-traded business development company with capital in excess of $400 million that focuses on providing senior debt and mezzanine capital to the energy industry; NGP Energy Technology Partners, L.P. a $148 million fund investing growth equity capital in companies providing 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 making direct investments in selected areas of the energy infrastructure and mineral businesses.
For Information: www.ngpenergycapital.com or www.naturalgaspartners.com