The Teachers’ Retirement System of Louisiana (TRSL) has increased its initial $30 million commitment to NGP Natural Resources XIII (NGP13) by $45 million.
NGP13 is seeking to raise $2.5 billion to invest in upstream oil and gas opportunities in North America. The fund aims to make between 10 and 12 investments of $10 million to $375 million.
NGP 13 is managed by the Dallas-based NGP Energy Capital Management.
TRSL has invested in prior instances of the NGP fund series, including $50 million to NGP12 in 2017 and $50 million to NGP11 in 2014.