Energy-focused Natural Gas Partners creates Catapult Group to back new oilfield service ventures


oil_170sqNatural resources-focused private equity fund manager Natural Gas Partners has tapped two of its funds to launch oilfield service company investor The Catapult Group.

Catapult will provide startup capital for new businesses as well as back office services such as accounting, HR and risk management.

NGP chief executive Kenneth Hersh said, “Catapult will be an attractive venue for oilfield services managers to pursue their entrepreneurial ambitions in the same manner that the E&P community has been building companies with NGP for decades.”

NGP made the investment through its tenth Natural Resources vehicle and NGP Energy Technology Partners II.

The firm launched its Energy Technology Partners business in 2005 to provide growth and buyout capital to business in the oil and gas, power, environmental, energy efficiency and alternative energy sectors.

NGP has about $10.5bn of capital under management across all of its vehicles, and has managed close to $13bn of cumulative committed capital since it was founded in 1988.

It held a final close for NGP Natural Resources X on about $3.6bn in July last year.

The fund continues NGP’s focus on oil and gas production, oilfield services, and the energy mid-stream sectors, and also targets the water resources & services and food & agriculture sectors through its NGP Global Adaptation Partners investment platform.

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