Pickens Raising $500 Million Natural Gas Fund

By Sabrina Willmer

Billionaire investor T. Boone Pickens, Jr. is seeking $500 million for a private-equity fund that will make natural gas investments, according to two people familiar with the situation.

BP Natural Gas Opportunity Partners LP will use a hybrid strategy of making both supplyside investments in natural gas resources and demand-side investments around fuel substition in transportation and oilfield services, according to the people familiar.

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