Natural Gas Partners will supply $100 million for oil and gas start-up Teak Midstream to purchase US assets.
Teak said it would initially focus on gas production areas in Texas, Louisiana, Oklahoma and Mississippi. It also said it would consider expanding into other areas where there was demand.
The company aims to provide provide midstream services, including gathering, transmission, treating, processing, compression, marketing and price risk management.
Teak is led by Chris Aulds and James Wales, who specialise in launching and growing midstream start-up companies. The pair were two of the original three founders of Crosstex Energy, which operates in the natural gas and natural gas liquids business.
Crosstex grew to a $3 billion publicly traded company in 2007, having begun as a $4 million start-up in 1996.
Energy-focused NGP is currently investing its ninth private equity fund, which closed on $4 billion in early 2008. Its tech-focused affiliate, NGP Energy Technology Partners, closed its second fund on $348 million in August 2009.