The Carlyle Group raises $2.5 billion international energy fund

Global alternative asset manager The Carlyle Group has raised US$2.5 billion for its first international energy fund, Carlyle International Energy Partners (CIEP).

CIEP began raising capital in mid-2013 and has attracted 160 investors. CIEP seeks investment opportunities in oil and gas outside North America, notably in Europe, Africa, Latin America and Asia. The primary investment focus is on oil and gas exploration and production (E&P), mid- & downstream, refining and marketing (R&M) and oil field services (OFS).

CIEP’s current investments include: Varo Energy, a Swiss-based refining, storage and distribution business operating in Germany and Switzerland; Discover Exploration, an oil and gas exploration company based in the UK that focuses on Africa, Latin America and Asia; and HES International, a European liquids, dry-bulk storage and handling business located in The Netherlands.

The final close of CIEP further expands Carlyle’s global energy offering and brings more than US$10 billion of capital to invest across the sector through CIEP, NGP Energy Capital Management, Carlyle Power Partners and Carlyle Energy Mezzanine Opportunities Fund.

Carlyle Chairman Daniel A. D’Aniello said,

“This has been a remarkable fund raise, the largest first-time fund in our 28-year history. We are grateful for the support of our investors who share our excitement at the current investment opportunities across the international oil and gas sector. The vision and experience of Marcel van Poecke, who leads our international energy team, made this possible. Marcel, alongside Ken Hersh, David Albert, Rahul Culas, Bob Mancini and Matt O’Connor, who led our other energy strategies, form what we believe is the most talented and experienced energy investing platform in the world.”

The CIEP team consists of 14 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years’ combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years’ upstream experience in Africa, Latin America & Europe. The advisory team for CIEP has offices in London and they will continue to benefit from the support of the firm’s global network of 40 offices.