Followers | 123 |
Posts | 7286 |
Boards Moderated | 0 |
Alias Born | 07/06/2012 |
Saturday, December 22, 2012 6:57:30 PM
The transaction also includes: a right to purchase an incremental 7.5% revenue interest, which would bring Carlyle’s total revenue interest to 55%; 7.5% of the carried interest in all future funds; and options to acquire BNRI’s 40% interest in the carried interest in NGP’s current flagship fund (NGP Natural Resources X, LP) and all future NGP funds. Carlyle has also agreed to pay the sellers additional consideration during 2015 to 2018, contingent upon NGP achieving certain business performance goals.
Carlyle co-CEO and chief investment officer William E. Conway Jr. said, “Carlyle is systematically strengthening our global natural resources investing platform and NGP is an important part of this effort. NGP’s investing excellence in the US oil and gas, midstream, and oilfield services sector, coupled with our established capabilities in commodities, power generation, mezzanine financing, and most recently, refineries, allows us to take full advantage of the energy revolution sweeping America. This partnership enables our respective investors to pursue opportunities across the energy spectrum.”
NGP CEO and co-founder Kenneth Hersh said, “Our strategic partnership with Carlyle enhances our ability to serve current and future investors. Our current NGP investors will continue to be served tirelessly by NGP’s extensive energy expertise, but they will now also benefit from Carlyle’s global reach, knowledge of debt financing and capital markets, and its extensive network, which complements our own.”
Hersh continued, “This relationship has tremendous long-term benefits. With this transaction, we have facilitated the sale of Barclays’ minority interest in our firm to a strategic partner, and carefully structured the contingent future payouts to favor NGP’s next generation of leaders, thereby providing substantial incentives for everyone to achieve high levels of performance over very long periods of time. Importantly, we did this all without disrupting in any way our current operations or governance structure.”
Daniel A. D’Aniello, Carlyle’s chairman and co-founder, said, “NGP has a proven team, a strong 24-year track record of performance across cycles and is a great cultural match. Our respective teams complement each other in so many ways, positioning both NGP and Carlyle to deliver even better outcomes for our investors.”
Established in 1988 by Ken Hersh and his partners, NGP Energy Capital Management has successfully completed 220 transactions, resulting in cumulative invested capital of $6.6 billion with total enterprise value of $36.1 billion across a range of energy and natural resource assets, including oil and gas resources, oilfield services, pipelines, and processing. Other investment mandates include: food, agriculture, water resources and services, energy efficiency, power tech, and alternative energy. The firm’s 70 professionals in five offices manage $12.1 billion across eight funds.
NGP will serve as the cornerstone of Carlyle’s growing natural resources investing platform, which includes energy mezzanine financing, energy infrastructure, and power generation (Cogentrix), and commodities (Vermillion).
Among many others, certain of NGP’s current and recent former investments in companies that are now publicly-traded include Energy Transfer Equity, Energy Transfer Partners, Eagle Rock Energy, Memorial Production Partners, and Resolute Energy Corporation.
OTCBB / Pink Sheet Oil & Gas Stocks
Don't believe anything I say. Do your own DD. Insert huge disclaimer here ____________.
Recent CG News
- Acentra Health Executive Vice President & Chief Strategy Officer Verlon Johnson Appointed Chair of Medicaid and CHIP Payment Access Commission • GlobeNewswire Inc. • 05/02/2024 04:54:51 PM
- Carlyle Credit Income Fund Schedules Second Quarter 2024 Financial Results and Investor Conference Call • PR Newswire (US) • 04/30/2024 08:05:00 PM
- Carlyle Secured Lending, Inc. Schedules Earnings Release and Quarterly Earnings Call to Discuss its First Quarter Ended March 31, 2024 Financial Results • GlobeNewswire Inc. • 04/11/2024 08:05:00 PM
- Apple Terminates 614 Employees, Disney Unveils June Crackdown on Password Sharing, and More Updates • IH Market News • 04/05/2024 11:38:57 AM
- Clinical Collaboration Agreement between Teva and Launch Therapeutics to Accelerate Development of Dual-Action Asthma Rescue Inhaler (ICS-SABA/TEV-’248) Respiratory Program; Teva and Abingworth Enter Strategic Development Funding Agreement • Business Wire • 04/01/2024 12:30:00 PM
- Grant Christie Joins Acentra Health as Senior Vice President of Market Strategy and Solutions • GlobeNewswire Inc. • 03/26/2024 01:22:00 PM
- Super Micro Computer and Seagate Shares Surge on Analyst Optimism in Pre-Market Trading, and Latest News • IH Market News • 03/26/2024 11:20:49 AM
- SER Welcomes New Investment from TA to Accelerate Growth • Business Wire • 03/21/2024 04:10:00 PM
- SER begrüßt neues Investment von TA zur Wachstumsbeschleunigung • Business Wire • 03/21/2024 04:10:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 11:43:28 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 03/05/2024 09:10:47 PM
- Carlyle Secured Lending, Inc. Names Justin Plouffe CEO and Member of the Board of Directors • GlobeNewswire Inc. • 03/04/2024 11:05:00 AM
- Shares of WW International Plummet after Oprah Exits, EA Announces Workforce Reduction and Restructuring Plan, and Latest News • IH Market News • 02/29/2024 11:11:43 AM
- Carlyle Secured Lending, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results, Increases Base Dividend to $0.40 Per Common Share and Declares First Quarter 2024 Dividends of $0.48 Per Common Share • GlobeNewswire Inc. • 02/26/2024 10:49:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 11:02:38 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 09:14:15 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 02/12/2024 11:00:28 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 10:46:01 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 09:36:25 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 09:31:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 02:25:12 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 02:23:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 02:19:34 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 02:17:28 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 02/07/2024 09:31:28 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM