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Carlyle’s NGP launches $4.5bn fund

2 May 2014

dollar 20_sqCarlyle-backed energy-focused investment firm NGP Energy Capital Management has launched its eleventh fund.

NGP is targeting $4.5bn for the new vehicle, said PeHUB, citing an LP who has heard the firm’s pitch.

Fund XI follows NGP’s tenth vehicle, which was closed with commitments of $3.58bn 2012.

That fund was generating a cash multiple of 1.17 times as at the end of September, according to data from the Oregon Public Employees Retirement Fund.

Carlyle owns a 47.5 per cent stake in NGP.

Last month it was reported that NGP was in advanced talks to buy a Wyoming natural gas field from Encana Corporationfor about $2bn.

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