NGP

Chris Carter serves as Managing Partner and leads the investment team. The firm operates under a partnership structure that includes 14 additional partners covering deal origination, business development, investor relations, legal, and finance. Day-to-day investment decisions are made by this partner group, which draws on more than 400 collective years of industry experience.

NGP invests directly by seeding and capitalizing stand-alone energy operating companies. The firm does not advertise a fund-of-funds program or external GP commitments. Its model centers on building entrepreneur-led platforms — each with dedicated management teams — across upstream oil and gas, mineral and royalty interests, midstream infrastructure, and energy services.

Public disclosures show the firm invests exclusively across the energy value chain in North America. It does not list positions in technology, healthcare, consumer goods, or financial services. While the portfolio now includes an AI-adjacent power-infrastructure company — Cloverleaf Infrastructure — the thesis remains tethered to physical energy assets and power generation.

The firm sources deals through its partner group and venture partners, many of whom have spent decades as operators in specific North American basins. Its model of recapitalizing and scaling independent management teams generates a pipeline rooted in industry relationships rather than broad auction processes. Portfolio CEOs cited on the firm's website — at Camino Natural Resources, Wing Resources, and Cloverleaf Infrastructure — all reference long-running partnerships with NGP as the capital source behind their platforms.