The natural gas industry in the United States plays a crucial role in the energy sector, providing a cleaner alternative to coal and oil. It includes a mix of exploration, production, and distribution companies, along with pipeline operators and service providers. This dynamic market is propelled by technological advancements in extraction and a rising demand for cleaner energy solutions. Interestingly, natural gas production has surged in recent years, contributing to the U.S. becoming the world's largest natural gas producer. The industry's future points towards increased investment in infrastructure and innovative approaches to emissions management, fostering a more sustainable energy transition.


The group of top investors includes a blend of corporate giants and venture capital outfits, primarily headquartered in major cities like New York, Houston, and Washington, D.C. Ranging in size from robust firms to growing companies, these investors have established themselves over several decades. They have collectively participated in a remarkable 519 deals in 2024, showcasing their influence in the vibrant natural gas space. With a mix of private equity, corporate investments, and venture capital, these players reflect various approaches to capitalizing on the evolving energy market.


Top 19 Natural Gas Investors in the US


1. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, headquartered in Washington, D.C. It focuses on private sector development in emerging markets by providing investment, advisory, and asset management services to businesses and financial institutions. The IFC aims to foster economic growth and address poverty challenges in over 100 countries. In the context of natural gas, the IFC has been involved in several significant transactions, including a $255 million funding round for Seven Energy, which is dedicated to expanding its gas business in Nigeria. Additionally, the IFC participated in debt financing for Eni, raising $210 million, and supported Engie with a post-IPO debt of approximately $551.8 million. These transactions highlight the IFC's active role in the natural gas sector, aligning with its mission to promote sustainable development through strategic investments.


2. Breakthrough Energy


Breakthrough Energy is a not-for-profit organization founded in 2015, based in Kirkland, Washington, dedicated to accelerating the transition to a net-zero economy. They support innovative technologies and advocate for policies that promote clean energy solutions. Their clientele includes businesses and organizations in the clean energy sector seeking funding, research support, and policy advocacy to address climate change. Notably, Breakthrough Energy Ventures has led significant funding rounds, including a $33 million Series A investment in Sierra Energy, which is developing FastOx® gasification technology, a process that can utilize natural gas. Additionally, they have invested in C-Zero, a startup focused on hydrogen production, which may also have implications for natural gas applications. Their diverse portfolio reflects a commitment to advancing energy technologies that could include natural gas as part of a broader clean energy strategy.


3. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored solutions to institutional investors and individual clients. In recent years, KKR has made significant strides in the natural gas sector, highlighted by its acquisition of a 42% stake in Port Arthur LNG Phase 1 through Sempra Infrastructure, aimed at boosting U.S. natural gas exports. Additionally, KKR partnered with Alberta Investment Management Corp. to acquire a 65% equity interest in the Coastal GasLink Pipeline Project, a major natural gas pipeline initiative in British Columbia, Canada, valued at approximately $5 billion. These strategic investments underscore KKR's commitment to expanding its footprint in the natural gas industry, while also leveraging its extensive expertise to navigate complex investment landscapes.


4. Chevron

  • Website: chevron.com
  • Type: Corporate
  • Headquarters: Houston, Texas, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: chevron

Chevron Corporation is an energy company based in Houston, Texas, specializing in oil and natural gas exploration, production, and distribution. Founded in 1999, Chevron operates globally and is committed to sustainable practices to meet the world's energy demands. In 2023, Chevron made significant moves in the natural gas sector, including the acquisition of PDC Energy for $7.6 billion, which bolstered their natural gas production capabilities. Additionally, their acquisition of Hess Corporation for $53 million enhances their positions in natural gas-rich regions like Guyana and the Bakken. Chevron's history of acquisitions, including Texaco, Unocal Corporation, and Union Oil, further demonstrates their long-standing commitment to expanding their portfolio in both oil and natural gas. The company also invests in renewable energy solutions and carbon capture technologies, reflecting a balanced approach to energy production.


5. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has engaged in several transactions relevant to the natural gas industry, including grants to companies such as Mega Gas, which raised $135,250 in February 2022, and Aurora Hydrogen, which secured $3,000,000 in July 2024. These investments reflect the government's interest in supporting energy innovation and sustainability, particularly in the context of natural gas and related technologies.


6. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. With a workforce exceeding 10,000 employees, the firm provides a wide array of services including wealth management, investment banking, and capital markets. Morgan Stanley Infrastructure Partners has made significant investments in the natural gas sector, including the acquisition of Southern Star Central Gas Pipeline in 2012, which underscores their commitment to energy infrastructure. In 2018, they further expanded their portfolio by acquiring Catalyst Energy Construction, indicating a focus on companies involved in natural gas operations. Additionally, their involvement in funding rounds for companies like Durango Midstream and Mission Creek Resources highlights their active role in supporting the growth of natural gas ventures. Overall, Morgan Stanley leverages its extensive expertise to provide tailored financial solutions across various industries, including natural gas.


7. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, New York, founded in 1998. It provides a wide range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In 2024, Goldman Sachs was involved in 59 investments, showcasing its active role in the financial markets. Notably, Goldman Sachs participated in significant transactions such as Sasol's $2.97 billion post-IPO debt raise on April 18, 2023, which is relevant as Sasol is involved in natural gas production and processing. Additionally, their investment in Swan Energy, which raised approximately $398 million in post-IPO equity on February 29, 2024, further highlights their engagement in the energy sector. These transactions reflect Goldman Sachs' strategic interest in companies that operate within the natural gas industry, reinforcing its position as a relevant investor in this sector.


8. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a prominent investment management firm based in New York, specializing in alternative investments. Founded in 1985, the firm has built a reputation for its extensive portfolio and investment strategies across various sectors, including private equity, real estate, and credit solutions. In the energy sector, Blackstone has made notable investments such as a $300 million funding round for Kosmos Energy Ltd. in 2004, which is involved in oil and natural gas exploration. Additionally, they participated in the post-IPO equity funding for Genesis Energy in 2017 and Rentech in 2014, both of which have ties to energy production. Most recently, Blackstone invested $1.1 billion in Tallgrass Energy in July 2024, further solidifying their commitment to the energy market, including natural gas. These transactions highlight Blackstone's active role in the natural gas industry, making them a significant investor in this sector.


9. EnCap Investments L.P.


EnCap Investments L.P. is a Houston-based private equity firm founded in 1988, specializing in providing growth capital to independent energy companies. The firm has raised over $40 billion and has a strong track record of successful investments in the energy industry, particularly in the upstream and midstream sectors. Notable transactions include investments in Chord Energy, which focuses on oil and natural gas exploration and production, and PennEnergy Resources, a company engaged in natural gas production. These investments highlight EnCap's commitment to supporting companies that are integral to the natural gas industry, further solidifying their position as a relevant investor in this sector.


10. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Apollo's integrated platform focuses on empowering retirees and providing innovative capital solutions. In the natural gas sector, Apollo has made notable investments, including a significant debt raise for New Fortress Energy, which focuses on natural gas infrastructure, and a private equity round for Talos Energy, a company engaged in oil and natural gas exploration. Additionally, their acquisition of Parallel Petroleum for approximately $483 million further emphasizes their commitment to the energy sector, including natural gas. These transactions highlight Apollo's active role in the natural gas industry, making them a relevant investor in this space.


11. Stonepeak

  • Website: stonepeak.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2011
  • Headcount: 201-500
  • Number of deals in 2024: 16
  • LinkedIn: stonepeak-partners

Stonepeak is a private equity investment firm based in New York, specializing in infrastructure and real estate investments. Founded in 2011, the firm manages assets on behalf of large institutions, including pension funds and endowments, with a focus on creating value through strategic investments in critical infrastructure that supports daily life. Stonepeak has been actively involved in the natural gas sector, with notable transactions including a $1 billion investment in Targa Resources Partners in 2016, which is a key player in the natural gas industry. In 2019, they participated in a private equity round for Venture Global LNG, a company focused on liquefied natural gas production. More recently, in December 2023, Stonepeak agreed to provide up to $400 million to Clean Energy Fuels Corp to support the development of renewable natural gas production facilities and the expansion of fueling infrastructure for heavy-duty trucks. These transactions highlight Stonepeak's commitment to the natural gas sector, alongside their broader investment strategy in infrastructure.


12. Warburg Pincus LLC

  • Website: warburgpincus.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1966
  • Headcount: 501-1000
  • Number of deals in 2024: 24
  • LinkedIn: warburg-pincus

Warburg Pincus LLC is a leading global private equity firm specializing in growth investments, founded in 1966 and based in New York, New York. With over $83 billion in assets under management, the firm has a diverse portfolio of more than 225 companies worldwide, spanning various sectors including healthcare, technology, and financial services. Notably, Warburg Pincus has made significant investments in the natural gas sector, including a $74 million investment in Pacific Canbriam Energy in 2017, which focuses on natural gas production. They also invested $500 million in Apex International Energy in 2016, a company that operates in the oil and gas sector. Furthermore, their commitment of over $1 billion to WildFire Energy I LLC highlights their strategic focus on acquiring and developing oil and gas assets in the U.S., reinforcing their active role in the natural gas industry.


13. First Reserve


First Reserve is an investment firm founded in 1983, based in Stamford, Connecticut, specializing in private equity and real asset strategies within the energy sector. With over 40 years of experience, First Reserve partners with management teams to drive growth and enhance value in energy, utility, and industrial markets. Notably, they have been involved in significant transactions within the natural gas sector, including the acquisition of Blue Racer Midstream, which focuses on midstream services for natural gas. Additionally, they acquired a controlling stake in Amromco Energy, a Romanian oil and gas producer, marking their expansion into the Central and Eastern European energy market. These transactions highlight First Reserve's commitment to investing in companies that provide critical solutions in the natural gas industry.


14. Post Oak Energy Capital


Post Oak Energy Capital is a private equity firm based in Houston, Texas, founded in 2006. The firm specializes in investments within the energy sector, particularly focusing on upstream, midstream, and oilfield services. They partner with experienced management teams to provide growth capital and strategic support, aiming to create successful oil and gas businesses. Notable transactions include the acquisition of Sandridge Energy, which is involved in natural gas production, and investments in LINN Energy, RAM Energy Resources, and Chaparral Energy LLC, all of which have significant operations in the natural gas sector. Post Oak Energy Capital is committed to developing a diversified portfolio of middle market energy investments, which includes a strong emphasis on natural gas-related ventures.


15. The Carlyle Group

  • Website: carlyle.com
  • Type: Private Equity
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1987
  • Headcount: 1001-5000
  • Number of deals in 2024: 25
  • LinkedIn: the-carlyle-group

The Carlyle Group Inc. is a prominent investment management firm founded in 1987, specializing in private equity, real assets, and private credit. With a global presence and a focus on delivering tailored investment solutions to institutional investors, Carlyle has established itself as a key player in various sectors, including energy. Among its notable transactions, Carlyle invested in SemGroup, which is involved in the transportation and storage of natural gas, raising $75 million in 2004. Additionally, Carlyle's investment in Mazarine Energy, which raised $500 million in 2016, further underscores its engagement in the energy sector, including natural gas. The firm's acquisition of The Sniffers, a company that provides services related to energy efficiency and emissions monitoring, also aligns with the broader energy landscape. Overall, Carlyle's diverse portfolio and strategic investments in energy-related companies highlight its relevance in the natural gas industry.


16. Riverstone Holdings


Riverstone Holdings LLC is an investment management firm specializing in private equity and credit solutions within the energy, power, and infrastructure sectors. Founded in 2000 and based in New York, Riverstone partners with institutional investors to provide tailored investment strategies aimed at capitalizing on market opportunities and managing risks associated with energy transitions. Notably, Riverstone has made significant investments in the natural gas sector, including a private equity round for Talos Energy, which is involved in oil and gas exploration. They co-led a $600 million equity investment in Admiral Permian Resources, a company focused on acquiring and developing oil and gas properties in the Permian Basin. Additionally, Riverstone participated in a funding round for BioSqueeze, a company working to seal methane leaks in oil and gas wells across North America. These transactions demonstrate Riverstone's active role in the natural gas industry, alongside their broader energy investment strategy.


17. Ferrellgas

  • Website: ferrellgas.com
  • Type: Corporate
  • Headquarters: Overland Park, Kansas, United States (USA)
  • Founded year: 1939
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: ferrellgas

Ferrellgas Partners, L.P. is a corporate investor based in Overland Park, Kansas, founded in 1939. The company specializes in propane supply and offers a variety of services including propane delivery, tank installation, and heating solutions for residential, commercial, and agricultural customers. Ferrellgas operates a nationwide supply network, ensuring reliable access to propane and exceptional customer service. Notably, Ferrellgas has been involved in several acquisitions that enhance its position in the gas supply market. These include the acquisition of Gasco Energy Supply in December 2015, which indicates their interest in expanding their footprint in the energy sector. Additionally, their acquisition of KanGas Corporation in November 2013 and Reliance Bottle Gas in June 2007 further demonstrates their commitment to growing their operations within the gas industry. Most recently, they acquired Kilhoffer Propane Co. in October 2024, continuing their trend of expanding their propane distribution capabilities.


18. EnCap Flatrock Midstream


EnCap Flatrock Midstream is a private equity firm based in San Antonio, Texas, founded in 2008. The firm specializes in the midstream energy sector, providing growth capital and operational support to midstream management teams. Their investment focus is on infrastructure projects, including pipelines and processing facilities, which are essential for the transportation and processing of natural gas. Notable transactions include significant funding rounds for Cardinal Midstream, which raised $300 million in 2022, $250 million in 2017, and $200 million in 2013, as well as a $200 million investment in Aspen Midstream in 2017 and a $300 million investment in Humble Midstream in 2020. These transactions highlight their active role in supporting companies that are integral to the natural gas supply chain.


19. Kleiner Perkins

  • Website: kleinerperkins.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1972
  • Headcount: 11-50
  • Number of deals in 2024: 38
  • LinkedIn: kleiner-perkins

Kleiner Perkins is a venture capital firm based in Menlo Park, California, founded in 1972. The firm specializes in investing in early-stage and growth companies, providing both capital and strategic support to entrepreneurs. With a strong focus on technology and life sciences, Kleiner Perkins has backed over 900 ventures, making it a significant player in the venture capital landscape. Notably, they have invested in AltaRock Energy, which raised $26.25 million in Series B funding in 2008 and $4 million in Series A funding in 2007, indicating their interest in energy solutions. Additionally, their investment in Choose Energy, which raised $14.2 million in Series C funding in 2015 and $7.5 million in Series B funding in 2013, highlights their involvement in the energy marketplace, including natural gas. This diverse portfolio reflects their capability and willingness to engage in the energy sector, including natural gas-related ventures.



Natural Gas Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
KkrNew York, New York, United States (USA)1001-5000197674
ChevronHouston, Texas, United States (USA)10001+199916
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
Morgan StanleyNew York, New York, United States (USA)10001+198679
Goldman SachsNew York, New York, United States (USA)10001+199859
BlackstoneNew York, New York, United States (USA)1001-5000198557
EnCap Investments L.P.Houston, Texas, United States (USA)51-20019881
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
StonepeakNew York, New York, United States (USA)201-500201116
Warburg Pincus LLCNew York, New York, United States (USA)501-1000196624
First ReserveStamford, Connecticut, United States (USA)51-20019830
Post Oak Energy CapitalHouston, Texas, United States (USA)11-5020063
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
Riverstone HoldingsNew York, New York, United States (USA)201-50020000
FerrellgasOverland Park, Kansas, United States (USA)1001-500019391
EnCap Flatrock MidstreamSan Antonio, Texas, United States (USA)11-5020080
Kleiner PerkinsMenlo Park, California, United States (USA)11-50197238


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