LONDON May 2 The Carlyle Group has hired
a six person energy investment team, the private equity firm
said on Thursday, as it looks to take advantage of predicted
growth in global demand.
Carlyle is beefing up its energy team after an 11-year
collaboration with Riverstone Holdings, which saw the private
equity firms launch six funds together focused on buyouts in the
energy and power sectors, came to an end in 2011.
The London-based team will be run by Marcel van Poecke, who
was chief executive of now insolvent Swiss-based oil refiner
Petroplus during Carlyle's ownership from 2005 to 2007, and will
join this month.
It plans to raise a fund of around $1.5 billion, a source
familiar with the matter said, and has already had some
commitments from investors.
"Industry experts forecast global energy demand to grow
dramatically over the next decade," Carlyle said in a statement.
"Energy production and infrastructure is expected to grow
dramatically in Europe, Africa, the Americas and Asia to meet
this demand. This environment will increase the need for capital
The team will focus on oil and gas exploration and
production, midstream, oilfield services and refining and
marketing in Europe, Africa, Latin America and Asia.
Carlyle already has $28 billion of energy investments, made
through its general buyout funds, its infrastructure fund and
its middle-market funds, but this is its first dedicated energy
fund and investment team outside North America.
Most diversified private equity firms now boast dedicated
energy funds. Last year KKR said it had raised a $1.25 billion
natural resources fund, while Blackstone Group LP raised just
over $2.5 billion for an energy-focused private equity fund.