NGP has closed NGP Sustainable Real Assets with $500 million in capital commitments from its energy transition fund, NGP Energy Transition IV. The mission behind NGP SRA is to invest in real asset development platforms throughout the energy transition process, such as clean power, fuels, carbon, transportation, and critical minerals.
“Our strategy with NGP SRA combines NGP’s 35-year track record of partnership-oriented investing,” NGP Managing Partner Chris Carter said. “Having backed more than 300 development platforms across the energy sector, with our firm’s significant capital, expertise and resources dedicated to the energy transition. We see a big opportunity to deploy an investment model NGP has honed over the last three decades into these attractive clean energy subsectors.”
NGP SRA partners with management teams in the early stages of formation to provide capital and support to continue building leading energy transition platforms. It has already closed investments in three platform companies, while typically looking at equity commitments of $50-$150 million in each investment.
“We take great pride in our reputation as value-added partners and trusted sector specialists in energy. More than three decades ago, NGP pioneered the investment model that now dominates traditional energy project development. We are excited to commit our experience and capital to advancing energy transition projects while seeking attractive risk adjusted returns for our investors.”
PGA of America Completes Expansion of Plug-and-Play Production Services
The PGA of America has expanded its PGA of America Studios in Frisco, offering audio and video content production services. The studio is fully equipped for live shows, national and local broadcast productions, streaming, commercials, photo shoots, and coverage of the PGA Frisco campus.
“Ultimately this serves our mission and our PGA of America members, where there’s more than 30,000 across the globe,” Senior Director of Global Media, PGA of America Casey Morton said. “It was huge to serve them, to enhance the value of them in their profession and be able to create content efficiencies for our championships on a multimedia effort, from broadcasts, digital, and podcasts.”
The expansion aims to provide a “home base” for PGA of America Members to share their stories and improve coverage of championships. The facility, created in partnership with Safari Solutions, allows real-time video distribution to platforms like Facebook LIVE and YouTube. External companies and agencies can also rent the space for their multimedia needs.
The studio has hosted commercial shoots, live shows, and interviews with media outlets like ESPN and Golf Channel, as well as hosting Conference USA’s football media day. The PGA of America Studios will provide interviews and reports for local and national media outlets throughout the upcoming NCAA football season.
DFW has a great centrally located location for companies,” Morton said. “If they aren’t located here, DFW has a market locally for companies it’s a great opportunity. It’s very convenient for entertainers, celebrities, CEOs, actors and actresses.”
Century 21 Judge Fite Property Management Merges with Local Dwelling
Century 21 Judge Fite Property Management has joined forces with Local Dwelling, a property management company in Dallas. This Merger means that Century 21 Judge Fite has over 1,900 properties under management, with over 230 new ones from local dwellings.
“We are thrilled to welcome the Local Dwelling team to our Judge Fite family,” Century 21 Judge Fite Property Management President Lori Fisher said. “This partnership expands our reach and strengthens our ability to deliver world-class service across the DFW and beyond. Our collective experience and wide range of services will benefit our clients and their investments.”
The Century 21 team holds more than 30 service professionals, including over 20 real estate professionals with a focus on luxury homes and affordable housing. The Local Dwelling property management staff with remain on board following the merger, carrying on the two company’s history on collaboration.
Stately Doors and Windows Acquired Reilly Architectural
Stately Doors and Windows, a leading manufacturer of custom products for luxury projects, has acquired Reilly Architectural. This will bring Stately’s annual revenue to $100 million and expand its presence across nine locations in six states. Stately specializes in custom luxury wood, steel, and iron doors and windows.
“We’re in an industry where ultra-luxury customers have had nowhere to turn for a complete solution,” Stately Executive Chairman Jude David said. “We recognized the most discerning customers needed a single brand and complete product line that allowed them to fulfill their vision without compromise. Stately’s mission is to provide that uncompromising, end-to-end solution. We built Stately from the ground up to provide a turnkey, luxury experience, partnering with builders, architects, and designers to turn their dream aesthetic into reality.”
Reilly Architectural was founded in 1981 with a focus on custom steel doors and windows. This transaction will mark the fourth acquisition in the last four years for Stately, whereas the this most recent one will continue its mission to focus on the east coast.
“The collaboration between Reilly Architectural and Stately Doors & Windows marks a significant milestone in the high-end luxury door and window market,” Reilly Architectural President Benjamin Edwards said. “It promises to enhance the customer experience by offering unparalleled quality products and services. This partnership is built on a shared foundation of core values and a commitment to excellence, which secures the future of Michael Reilly’s vision and ensures his legacy thrives and evolves,”
Novatae Risk Group Acquires London-Based Bretton Woods International
Novatae Risk Group, a U.S. insurance broker, has acquired Bretton Woods International, a specialty insurance broker based in Lloyd’s of London. It is the first international acquisition for Novatae which aimed to provide it with increased access to the excess insurance markets, and World Insurance Associates, Novatae’s parent company, which received a $1 billion investment from Goldman Sachs Asset Management last year.
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Bridget Reis
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