NGP Energy raises $3.2bn

The Irving, US-based investment firm will be deploying its latest fund in the oil, gas and renewables sector.

NGP Energy Capital Management has raised $3.22 billion for NGP Natural Resources XII, completing more than half its $5.3 billion fundraising target, according to a US SEC filing.

The fund is expected to follow the same investment strategy as that of its predecessor, the NGP Natural Resources XI, which closed at $5.3 billion in January 2015, and is being invested in the oil, gas and renewables sectors.