Insight

NGP racks up $700m for fourth energy transition fund

NGP Energy Transition IV is focused on investing in companies that drive or enable the growth of renewable energy.

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  • The fund will also invest in businesses that develop, own and operate real assets within the energy transition
  • NGP Energy Transition IV launched in April 2022
  • The private equity firm has over $20 billion of cumulative equity commitments

NGP has closed its fourth energy transition fund at $700 million.

NGP Energy Transition IV is focused on investing in companies that drive or enable the growth of renewable energy, the electrification of the economy, the efficient use of energy and resources and the management/reduction of carbon emissions. The fund will also invest in businesses that develop, own and operate real assets within the energy transition.

NGP Energy Transition IV launched in April 2022 and has invested over $100 million in seven portfolio companies that include Noveon Magnetics, Dandelion Energy and Form Energy.

On the fundraising, Chris Carter, NGP’s managing partner, said in a statement, “Energy transition is key to the future of NGP, and our investment activity in the space is accelerating. We believe NGP is a preeminent energy investor across the energy value chain, and we plan to build from the strong foundation of energy transition investing we’ve established over the last 18 years.”

Headquartered in Dallas, NGP is focused on the energy sector. The private equity firm has over $20 billion of cumulative equity commitments. NGP was founded in 1988.