Carlyle Group LP, the second-biggest manager of alternatives to stocks and bonds, expects to have raised about $900 million for its first international energy fund by the end of this week, a person briefed on the matter said.
Carlyle International Energy Partners LP will be more than halfway to its $1.5 billion target, said the person, who asked not to be identified because the information isn’t public. The fund will invest in oil and gas exploration and production, midstream, oilfield services and refining and marketing in Europe, Africa, Latin America and Asia.
Randall Whitestone, a spokesman at Washington-based Carlyle, declined to comment on the fundraising.
Carlyle is seeking capital for the fund as part of a broader effort to find opportunities in energy, which it identified last year as the most attractive investment area globally. It plans to gather $7 billion for energy funds in the next two years to meet rising demand and take advantage of opportunities arising from hydraulic fracturing, or fracking. The firm is seeking $4 billion for a North American energy fund and $1.5 billion for a power-focused fund. Carlyle in 2012 bought a stake in NGP Energy Capital Management LLC.
Carlyle started marketing its fund in 2013 after hiring an investment team to focus on international energy investments. The team is led by Marcel van Poecke, who founded Petroplus, a European-based oil refining and marketing company that was owned by Carlyle from 2005 to 2007. He later started AtlasInvest, an investor in oil, gas and renewable energy.
The new fund made two investments late last year. Carlyle agreed in December to team up with Vitol Group to form Varo Energy BV, a midstream energy business in northwest Europe. The fund also committed as much as $200 million in equity to Discover Exploration Ltd., an oil and gas exploration company run by a former management team from Cove Energy Plc.
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