Pensions&Investments reported NGP Energy Capital Management closed on a new energy fund with $5.3 billion in commitments
Carlyle Group owns 55% of NGP's revenue and was due a fee from NGP for any new limited partner that invested in the fund.
State teacher pension funds ensuring Carlyle's new fees include Virginia, Kentucky, Pennsylvania, Louisiana, Ohio and New Hampshire. The Carlyle Group loves public education money, directly or indirectly.
While PEU Carlyle grows fatter public schools deal with increasingly impoverished youth. It's a byproduct of the race to the lowest global common denominator for worker pay, taxes and actual enforcement of laws/regulations.