Private equity firm Carlyle Group LP has partnered with Tullow Oil PLC's founder and former CEO Aidan Heavey and former CFO Tom Hickey to launch Boru Energy, a new platform that will target up to $1 billion in oil and gas asset acquisitions in Sub-Saharan Africa.
According to an Oct. 1 release, Boru Energy will aim to gather a portfolio of primarily non-operated interests in oil and gas production assets. The portfolio will be spread across several Sub-Saharan Africa countries and will consist of assets with significant commercialization potential operated by a national, international or independent oil and gas company.
Carlyle International Energy Partners LP, or CIEP, will provide funding for potential investments. CIEP's head and managing director Marcel van Poecke and managing director Bob Maguire will lead the investment.
