NGP raises $1.2b for 11th natural resources fund

NGP Energy Capital Management has raised $1.16 billion for NGP Natural Resources XI, which launched in July 2013 with a $4.8 billion hard cap, according to a filing with the SEC.

According to documents from Pennsylvania’s Public School Employees’ Retirement System — which committed $100 million to the fund in June — the fund will continue its 10 predecessors’ strategy of investing in oil and gas production, midstream and oilfield services companies, providing capital to “owner managers” to purchase existing oil and