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Written by / Agency / Source: NGP Energy Technology Partners (NGP ETP)
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NGP Energy Capital Management Announces $3.586 Billion Fund - NGP Energy Capital Management (“NGP”) announced that the final closing of NGP Natural Resources X, L.P. (“NGP X”) occurred on June 29 with total commitments of $3.586 billion - NGPETP.com / NGPenergycapital.com
NGP Energy Capital Management Announces $3.586 Billion Fund

 

NewswireToday - /newswire/ - Irving, TX, United States, 2012/07/11 - NGP Energy Capital Management (“NGP”) announced that the final closing of NGP Natural Resources X, L.P. (“NGP X”) occurred on June 29 with total commitments of $3.586 billion - NGPETP.com / NGPenergycapital.com. NASDAQ: NGPC

   
 
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NGP X will continue NGP Energy Capital Management’s 23-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 the energy mid-stream sectors through its Natural Gas Partners investment platform and focusing on the water resources & services and food & agriculture sectors through its NGP Global Adaptation Partners investment platform. NGP X will be managed by NGP, bringing the cumulative capital managed by NGP and its affiliates since inception to a total of $13 billion.

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 is a testament to our industry-leading investment returns generated over the past two decades and the strong fundamentals in the natural resources investment arena.”

Mr. Hersh continued: “NGP X will invest in the same size deals that our track record has been built upon. The fund was activated in January 2012 and already has 11 investments in its portfolio. Many of these investments are managed by experienced management teams from prior NGP portfolio companies. Given our current investment pace and strong deal flow, we decided at the outset that fundraising efforts for NGP X would be limited to a one-year period to optimize our focus on the investment opportunities we are generating. We are very pleased with the amount of capital raised during the past year, especially given the recession’s impact on the overall fundraising market. NGP X is of sufficient size to allow us to continue our core investment business over the next several years.”

In addition to Natural Gas Partners and NGP Global Adaptation Partners, NGP’s investment platform also includes the NGP Energy Technology Partners private equity funds which provide capital for growth and buyouts in companies providing technology-related products and services for the oil and gas, power and alternative energy sectors and includes NGP Capital Resources Company (NASDAQ: “NGPC”), a publicly-traded investment fund that focuses on providing debt and equity capital to the natural resources and broader middle market industries.

 
 
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Written by / Agency / Source: NGP Energy Technology Partners (NGP ETP)

 
 

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NGP Energy Capital Management Announces $3.586 Billion Fund

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Publisher Contact: Kenneth A. Hersh - NGPETP.com 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any NGP Energy Technology Partners (NGP ETP) securities in any jurisdiction including any other companies listed or named in this release.

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