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PeHUB-Carlyle Loads up for Energy Mezzanine Plays
July 16, 2012 / 9:59 PM / 5 years ago

PeHUB-Carlyle Loads up for Energy Mezzanine Plays

* Private equity increasingly raising mezzanine funds

* Carlyle has at least 3 funds for energy mezzanine plays

* PE has increasingly made natgas plays in past 24 months

By Jonathan and Marino

NEW YORK July 16 (PeHUB) - The Carlyle Group has raised more than $500 million to invest in mezzanine energy deals, according to 2012 U.S. Securities and Exchange Commission filings.

On Friday, the PE shop submitted a filing on its Carlyle Energy Mezzanine Opportunities Fund-Q, L.P., saying it had bagged an impressive $200 million toward the fund from a sole LP. The federal filing indicated the fund might be a sole LP’s managed account, since it stated there is no more room in the fund to be sold. The fund was formed in 2011.

Carlyle’s Q-fund is not the only mezzanine energy play the PE shop is making this year, according to documents submitted earlier in 2012.

Carlyle Energy Mezzanine Opportunities Fund-A L.P., which has been around since 2010, has raised $85 million out of an indefinite target, according to its most recent filing. The filing states it has just two investors to date. Carlyle Energy Mezzanine Opportunities Fund, L.P., has also been in the market since 2010. Like its nearly identical counterpart, it also has an indefinite target, but has bagged more than $227 million from 31 investors.

Senior leadership from the private equity firm are the GPs listed on at least one of three separate documents. Among them: William Conway, David Rubenstein, Daniel D‘Aniello, Rahul Culas, Michael Petrick, and David Albert.

None of the filings indicated that Carlyle used a placement agent for its funds. Next, it remains to be seen how the open ones will be filled, with whom, and how they will invest. They are not the only big PE shop making waves in the mezzanine market. KKR is also said to be raising a mezzanine fund in 2012.

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