Irving, Texas-based private equity firm Natural Gas Partners announced today the promotion of John Weinzierl from principal to managing director. The firm also announced the hiring of Colin Raymond, formerly a vice president of Hunt Oil and a partner at Soros Private Equity Partners, as a principal.
Weinzierl joined Natural Gas in 1999 and currently focuse on transaction origination, deal execution and portfolio company monitoring. He holds a B.S. in petroleum engineering and an MBA from the University of Texas. Prior to joining the firm, Weinzierl worked in Enron’s upstream financing department and was a drilling engineer with Conoco.
Founded in 1988, Natural Gas has raised a total of seven funds, most recently Fund VII, which closed on $600 million (€463 million) in March 2003. The firm has about $1.6 billion of capital under management, of which more than $1 billion has bee invested in more than 70 energy companies.
Late last year, NGP Capital Resources, a business development corporation formed by Natural Gas Partners, priced its initial public offering for total proceeds of $240 million.
Last year, the private equity firm realized a profit of 3.2 times its investment in the $123 million sale of Cortez Oil & Gas to publicly traded Encore Acquisition.