North Sea PE push grows

HAS the UK finally caught on to the private equity juggernaut that fuelled the US' shale boom? It seems so, as UK oil royalty Sam Laidlaw yesterday unveiled his latest venture to capitalise on low oil prices with a £3.3 billion ($A6.6 billion) investment vehicle to back North Sea projects, among others.

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The London-based investment vehicle, Neptune Oil and Gas, is a joint venture between Laidlaw, global alternative asset manager The Carlyle Group and investment advisory firm CVC Capital Partners.

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