IRVING, Texas--(BUSINESS WIRE)--NGP Global Agribusiness Partners (“NGP GAP”) today announced that it has completed the final closing of NGP Agribusiness Follow-on Fund, L.P. with total commitments of $402 million, 25% above the fund’s original target amount. The fund will focus on direct equity investments in businesses in the following agribusiness sectors: agriproduct distribution and services, commodity storage and merchandising, transportation and logistics, commodity processing, packaging and distribution, food and feed ingredient processing and food service manufacturing excluding businesses predominantly involved in the manufacture of branded retail consumer food products. The fund continues and extends the natural resources investment platform of NGP Energy Capital Management, which began investing in the agribusiness sector in 2011.
Mark N. Zenuk, Managing Director, is an experienced industry executive who leads NGP GAP’s investment team. Mr. Zenuk has an established presence within the global agribusiness sector and a history of success. Prior to joining NGP GAP in 2010, he served as a senior executive with Archer Daniels Midland Company, most recently as President of the Oilseeds Business Unit. “We are thankful for the support of our investors and appreciate the confidence placed in our team,” said Mark Zenuk. “We understand the dynamics of investing in a commodity business and are excited to partner with experienced management teams where there is a clear match between their strategy and our unique sponsorship capabilities.”
Kenneth A. Hersh, NGP’s Chief Executive Officer, said: “NGP is extremely pleased with this announcement and the efforts of our NGP GAP team. We believe the support from our investor base is a testament to our core tenets and the strong fundamentals in the natural resources investment arena.”
NGP GAP is based in Irving, Texas and is an affiliate of NGP Energy Capital Management (“NGP ECM”) founded in 1988 and a premier investment franchise in the natural resources industry, which together with its affiliates has managed approximately $13 billion in cumulative committed capital since inception. In addition to NGP GAP, NGP ECM’s investment platform includes Natural Gas Partners, NGP Capital Resources Company (NASDAQ: “NGPC”) and NGP Energy Technology Partners, L.P.
For Information: www.ngpgap.com