NGP Energy Capital Management’s natural resources fund quarter of the way to $4bn target


coking-plant-1425781-mPrivate equity firm NGP Energy Capital Management has harvested $1.1bn worth of commitments for its eleventh natural resources fund.

The Carlyle Group-backed firm’s target for the Natural Resources XI is $4.825bn, according to its filing with the Securities and Exchange Commission.

So far it has attracted capital from 85 LPs and paid $1m sales commissions. The minimum investment for the fund is $25,000.

The Texas-based private equity firm named Tony Weber as managing partner and COO eight months ago, to focus on investment portfolio construction and monitoring.

NGPC’s current portfolio includes BlueStone Natural Resources and oil and gas company Memorial Production Partners.

Carlyle bought a 47.5 per cent stake in the NGP firm in December 2012.

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