On Monday, the Carlyle Group in a statement said that it has committed to invest up to $500 million in Magna Energy Ltd, an India-focused upstream oil and gas company.

Magna Energy is on the lookout for becoming a full-cycle oil and gas company by acquisitions and securing local licences in the Indian sub-continent.

It will be having a primary focus on development and production.

Carlyle International Energy Partners is a unit of the buyout shop through which it is making the investment. Moreover this unit is a fund that focuses on oil and gas exploration and production.

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