Energy & Minerals Group Raises $1.2B For PE Fund

Jan 2 2014 | 1:44pm ET

Energy & Minerals Group, the investment advisor that spun out of NGP Energy Capital Management, has raised $1.2 billion for its latest private-equity fund, according to regulatory filings.

The EGM Fund III follows the $2.2 billion EMG Fund II, fundraising for which was completed in December 2012.

Led by CEO John Raymond, previously head of the midstream investment group at NGP, and with offices in Houston and Dallas, EMG makes equity investments of $150 million to $400 million in companies, according to its website. The firm invests across the global natural-resources industry, including in upstream and midstream companies.

Of late, EMG has been making significant investments in Ohio's Utica Shale development. Last October, the firm helped lead a $1.7 billion investment in an affiliate of Aubrey McClendon’s American Energy Partners, the funds to be usd to acquire and develop a leasehold position in the Utica Shale.

And last December, EMG and MarkWest signed a deal with Gulfpart Energy to provide stabilizing and storage infrastructure for Utica Shale condensate.

EMG has approximately $8.2 billion of total investor commitments (including co-investments) with approximately $4.3 billion allocated across the energy sector since inception.

A request for comment from EMG was not answered.

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