On December 20, 2012, The Carlyle Group (NASDAQ:CG) announced that it had acquired a 47.5% revenue interest in NGP Energy Capital Management for $424 million.
On December 20, 2012, global alternative asset manager The Carlyle Group (NASDAQ:CG) announced that it had acquired of a 47.5% revenue interest in NGP Energy Capital Management. The purchase price for the stake is $424 million, comprised of cash and Carlyle Holdings partnership units, plus additional consideration during 2015-2018, contingent upon the achievement of certain performance benchmarks. 40% of the interest will be acquired from Barclays Natural Resource Investments. The remaining 7.5% interest will be acquired from NGP’s management. Additionally, Carlyle has the right to purchase an incremental 7.5% revenue interest, 7.5% of the carried interest in all future funds, and options to acquire Barclays’ 40% interest in the carried interest in NGP’s current flagship fund and all future funds. Based in Irving, Texas, NGP is an energy investor with approximately $12.1 billion in assets under management.
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