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The Carlyle Group Backs Former Cove Team

LONDON--(BUSINESS WIRE)--Global alternative asset manager The Carlyle Group (NASDAQ:CG) today announced it has made a majority investment in Discover Exploration Limited. The equity investment of up to $200 million over the next three years will fund existing operations in New Zealand and the Union of the Comoros as well as new opportunities. This is the first investment by CIEP, a fund that focuses on oil and gas exploration & production, midstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia. CIEP is headed by Managing Director Marcel van Poecke, an industry veteran and a seasoned investor in the energy sector.