NGP Energy Capital Management closes three funds on a combined $1.7bn

Kenneth A Hersh, chief executive officer of NGP Energy Capital Management and managing partner of NGP VIII, said, 'Approximately $1.2bn of the commitments accepted for NGP VIII came from investors already committed to prior NGP funds, with the remainder coming from institutions or through consultants previously known by the firm.'

NGP Income Co-Investment Opportunities Fund II will invest capital alongside NGP VIII's portfolio companies to purchase various royalty, net profits and other interests in oil and gas properties and other energy-related assets.

NGP ETP will invest growth capital and buy-out funding in companies providing technology-related products and services to the oil and gas, power and alternative energy sectors.

Philip J Deutch, the managing partner of NGP ETP, said, 'We are pleased to have reached the high end of the size range we targeted when we began fundraising and could not be more excited about the investment thesis of NGP Energy Technology Partners, L.P. The time is right to create a unique capital source dedicated to the specialised needs of the energy technology sector. This is one of the most dynamic investment arenas in the world today.'

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