Neptune Oil & Gas will target acquisitions of up to $5 billion
London - Global alternative asset manager The Carlyle Group (NASDAQ:CG) and global private equity and investment advisory firm CVC Capital Partners, today announced that they have agreed to fund Neptune Oil & Gas Ltd, a new oil & gas investment vehicle that will be headquartered in London. Neptune will focus on investing in large oil & gas portfolios that may come available as a result of current energy market dynamics.
Neptune will be led by Sam Laidlaw, an industry veteran, who has more than thirty years' experience in the energy sector. Mr. Laidlaw will work alongside Carlyle and CVC to identify large-scale investment opportunities arising in the North Sea, North Africa and South East Asia.
Funding for the investment platform will come from Carlyle International Energy Partners (CIEP), a fund that focuses on oil and gas exploration & production, midstream, and refining and marketing in Europe, Africa, Latin America and Asia, and from funds managed by CVC Capital Partners. CIEP's investment is led by Managing Director Marcel van Poecke, a seasoned investor in the energy sector, and Managing Director Bob Maguire, a respected energy industry veteran. CVC's investment is led by Donald Mackenzie, Co-Founder and Co-Chairman of CVC, and Rob Lucas, Managing Partner and Head of CVC's UK team.
Sam Laidlaw, Executive Chairman of Neptune said: "I am pleased to be partnering with investors of the experience and calibre of Carlyle and CVC. They share my enthusiasm to invest in building a new oil & gas company and to create significant value for our stakeholders at this pivotal time for the industry, in particular across the North Sea, North Africa and South East Asia."
Marcel van Poecke, Managing Director, and Head of CIEP, said: "Sam Laidlaw, Carlyle and CVC are a formidable partnership. CIEP will provide capability and support to Neptune through its global energy platform as we invest in and grow large-scale energy companies seeking capital and global management expertise."
Rob Lucas, Managing Partner, CVC said: "We have known Sam Laidlaw for many years and believe the timing is now favourable to pursue this venture in partnership with Sam and Carlyle. CVC bring over thirty years of investment experience, including a successful track record of delivering complex corporate carve-outs, and the support of an extensive international office network."
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For More Information:
Neptune Oil & Gas Ltd:
James Henderson, Managing Director at Bell Pottinger;
; +44 (0) 20 3772 2500
The Carlyle Group:
Catherine Armstrong, Media Relations Manager;
firstname.lastname@example.org; +44 (0) 207 894 1632
CVC Capital Partners:
Carsten Huwendiek, Head of Communications;
email@example.com; +44 (0) 207 420 4240
Notes to Editors
About Sam Laidlaw
Sam Laidlaw is an experienced energy industry executive, with an international operational track record of over thirty years in the oil and gas sector. Most recently, Sam was CEO of Centrica plc (2006 to 2014). Centrica is a FTSE 100 integrated energy company engaged in sourcing, producing, trading and supplying energy and a range of related services, with annual revenues of over £29Bn. Centrica's activities include the production of 77 million barrels of oil equivalent per annum. Prior to joining Centrica, Sam was EVP of Global Business Development of Chevron Corporation (2003 to 2006), CEO of Enterprise Oil and he built the International Exploration and Production business of U.S. oil company Amerada Hess (1981-2001), before becoming Group President and COO (1995-2001). Sam is a Non-Executive Director of HSBC Holdings plc and Chairman of the National Centre for Universities and Business (NCUB)
About the Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles as of March 31, 2015. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments - Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions - in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 40 offices across six continents.
About Carlyle's Energy Platform
Carlyle has constructed a broad-based energy investing platform (currently with over $10 billion in capital to deploy) offering innovative investment opportunities, including international energy investing in oil & gas exploration & production, mid- & downstream, refining & marketing and oil field services in Europe, Africa, Latin America and Asia (CIEP), U.S. energy investing (NGP Energy Capital Management where Carlyle owns 55% of management fee-related revenues), project finance (Energy Mezzanine), Power (Cogentrix) and the firm's proven buyout capabilities in transactions such as Philadelphia Energy Solutions and Kinder Morgan. Supporting this is the Carlyle network and capital markets experience.
Established in May 2013, the CIEP team focuses on oil and gas exploration and production mid- & downstream, refining and marketing and oil field services in Europe, Africa, Latin America and Asia. The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to The Carlyle Group's global network. The team operates primarily from offices in London while leveraging Carlyle's local offices to pursue opportunities across Europe, Africa, Asia and Latin America and is reinforced by The Carlyle Group's regional fund teams and global investment professionals.
The CIEP team consists of 14 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years' combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years' upstream experience in Africa, Latin America & Europe. The advisory team for CIEP has offices in London and they will continue to benefit from the support of the firm's global network of 40 offices.
CIEP current investments include: Varo Energy, a Swiss-based refining, storage and distribution business operating in Germany and Switzerland; Discover Exploration, an oil and gas exploration company based in the UK that focuses on Africa, Latin America and Asia and HES International, a European liquids, dry-bulk storage and handling business.
About CVC Capital Partners
CVC Capital Partners is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 22 offices and over 300 employees throughout Europe, Asia and the US. To date, CVC has secured commitments of over US$79 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over US$120 billion.www.cvc.com
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