IRVING, Texas--(BUSINESS WIRE)--Natural Gas Partners (“NGP”) is pleased to announce the signing of a definitive agreement providing for a long-term strategic investment relationship with Citrine Energy Capital Management, LLC. NGP Natural Resources XI, L.P., the most recent Natural Gas Partners private equity fund focused on natural resources, has made an equity commitment available for investment from time to time directly in the future portfolio companies of Citrine. Citrine is a newly-formed energy private equity firm founded by former NGP executives William Quinn, Tomas Ackerman, and Daniel Goodman. Citrine plans to focus on small and middle market investments requiring between $25 million to $75 million of equity capital in the North American upstream, midstream, and oilfield services sectors.
Tony Weber, Managing Partner of NGP, commented, “Establishing this relationship with our former NGP colleagues is a testament to our friendship with them, as well as our confidence in them as energy investment professionals.”
Chris Carter, Managing Partner of NGP, added, “The Citrine strategic arrangement enhances NGP’s energy investment opportunities which already span various sizes and strategies across North America. It is rewarding to construct a collaboration that benefits both investment franchises.”
About Natural Gas Partners
Founded in 1988, Natural Gas Partners (“NGP”) is a family of private equity investment funds, with approximately $16.5 billion of cumulative equity commitments, organized to make investments in the natural resources sector. NGP is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry. In addition to NGP, NGP Energy Capital Management’s investment platform includes NGP Global Agribusiness Partners and NGP Energy Technology Partners.