Citrine Energy Capital Founded by Former Senior NGP Executives to Focus on Small and Middle Market Energy Investments
14 Apr, 2015, 06:00 ET
DALLAS, April 14, 2015 /PRNewswire/ -- Citrine Energy Capital Management, LLC ("Citrine"), a newly-formed energy private equity firm with offices in Houston and Dallas, Texas, is pleased to announce its formal launch. Founded by former senior Natural Gas Partners ("NGP") executives William Quinn, Tomas Ackerman and Daniel Goodman, Citrine will focus on small and middle market investments requiring between $25 million to $75 million of equity capital in the North American upstream, midstream, and oilfield services sectors.
Prior to his departure from NGP, Mr. Quinn served as a Managing Partner of the firm where he oversaw the firm's investment activities. Though all of Citrine's executives bring a deep experience in the upstream sector, Tomas Ackerman, a former Managing Director and head of NGP's Houston office, brings a specific expertise and network in the midstream sector while Daniel Goodman, formerly a Principal in NGP's Houston office, was instrumentally involved in NGP's oilfield services investments. David Levinson has also joined Citrine as a member of the senior leadership team, where he will serve as Chief Operating Officer.
Commenting on the formation, Mr. Quinn said, "We are very excited to continue working together as a team. Our collective experience encompasses successfully sourcing, monitoring and exiting numerous investments in the energy sector. I believe that our team's deep relationships and friendships across the sector will be a platform for continued success for our employees, management teams, and other partners."
"First and foremost, we will focus on partnering with entrepreneurially-minded management teams who possess best-in-class technical talents to execute their business plans," said Mr. Ackerman. He added, "The current focus of existing private equity in the energy space is typically on much larger equity commitments and we feel the small to middle market space presents a very compelling opportunity."
Mr. Goodman added, "The decade-long talent gap is behind us, and we have witnessed first-hand the extraordinary leadership capabilities of the next generation of energy entrepreneurs. We will strive to be a nimble, value-added partner using our combined forty-plus years of energy investing experience to help our management team partners succeed."
Citrine is also pleased to have entered into a Strategic Investment Agreement with NGP. Mr. Quinn commented on Citrine's relationship with NGP, "It's an honor to continue working with our friends and former colleagues in a way that is value-added for our management team partners and bolsters investment opportunities and capabilities for both NGP and Citrine."
SOURCE Citrine Energy Capital Management, LLC
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