Energy-focused private equity firm Natural Gas Partners has promoted David Hayes and Colin Raymond from principals to managing directors.
Hayes has been working for Texas-based NGP since 1998. Prior to joining the firm, he worked as an investment banker in Merrill Lynch’s Energy Investment Banking group in Houston, where he focused on mergers and acquisitions in the exploration, production and pipeline industries.
Before joining NGP in 2005, Raymond was a vice president of Hunt Oil, a Texas-based independent oil company which has its own affiliated private investment firm. At Hunt, Raymond supervised the commercial aspects of the company’s Peruvian Camisea gas, liquids and LNG project.
Before Hunt, Raymond spent three years as a partner in Soros Private Equity Partners, billionaire George Soros’ former private equity franchise, and before that worked as vice president of Morgan Stanley Capital Partners.
NGP is a $7.2 billion family of investment funds organized to make direct equity investments in private energy enterprises.
In March, the firm hit its hard cap on its ninth fund with commitments of roughly $4 billion, more than double the size of its previous fund. The firm also opened a London office earlier this year.