The $14.3 billion New Mexico Public Employees Retirement Association has committed $75 million to NGP Natural Resources XII, according to Kristin Valera, senior portfolio manager, real assets, for the pension fund.
NGP Natural Resources XII, which recently launched in July, continues the fund series in focusing on the oil and gas production, oilfield services, and energy midstream sectors through its Natural Gas Partners investment platform throughout the United States.
New Mexico committed $24 million to a previous fund in the series, NGP Natural Resources X.
The fund’s predecessor, NGP Natural Resources XI, held a $5.3 billion final close in 2015. In August, Hibernia Energy III announced that it has raised $250 million of new equity commitments from NGP through NGP Natural Resources XII. Hibernia III’s strategy is to acquire and prudently develop unconventional oil and gas assets in Texas, leveraging its proprietary relationships and operational expertise.
Founded in 1988, NGP is a private equity firm making direct equity investments in the energy sector with approximately $17 billion of cumulative equity commitments.
