Investment Fund 7 · 2026 Vintage · Natural Gas Midstream & LNG

Natural Gas Midstream & LNG


Natural gas midstream infrastructure, LNG infrastructure, and natural gas liquefaction. — targeting a net IRR of 13–18% across contracted, operator-led energy assets.

$13.60B
Fund Size
13–18%
Net IRR Target
$2M
Minimum Commitment
In Formation
Deployment Status
Strategy

Investment thesis

Fund 7 owns natural gas midstream infrastructure — pipelines, gathering systems, and storage — together with LNG infrastructure and natural gas liquefaction facilities that connect domestic supply to global demand. We favor assets anchored by long-term supply and offtake agreements with creditworthy counterparties, brownfield sites with existing permits and infrastructure, and technology that is commercially proven. Natural gas remains a necessary bridge fuel where full electrification is not yet economic.

Coverage

Target asset types

  • Natural gas gathering, processing, and pipeline systems
  • Underground and above-ground natural gas storage
  • LNG liquefaction and export terminal infrastructure
  • Marine LNG bunkering and import/regasification facilities
Sample deal profile

Gulf Liquefaction Terminal

A mid-scale LNG liquefaction and export terminal on the Gulf Coast, anchored by long-term take-or-pay offtake agreements with international buyers and brownfield siting on an existing industrial corridor.

Representative, illustrative profile of the asset type this fund targets. Not an offer, commitment, or existing holding.

Fees & terms

Vehicle summary

VehicleDelaware limited partnership
Preferred return8% compounded annually
Carried interest20% above 8% pref (100% GP catch-up)
Fund term12–15 years + two 1-year extensions
Investment period5–6 years
Minimum LP commitment$2 million
GP commitment2% of total fund commitments
Distribution waterfallEuropean (whole-fund)
Fund administratorIndependent third-party administrator (to be appointed)
AuditorPricewaterhouseCoopers LLP
Legal counselLepore Law Group
We size each fund to the durability of its cash flows, not the appetite of the moment. Concentration follows conviction, and conviction follows underwriting.
Alzaro Energy Investment Committee

Talk to our investor relations team

For fund materials, capital account information, and partnership inquiries, reach Alzaro Energy directly.

Contact Investor Relations