Carlyle invests $41 mn in Great Offshore

US-based private equity firm Carlyle today said it has invested $41 million in Great Offshore, a city-based service provider engaged in the oil and gas sector.

The investment has come through Carlyle Asia Growth Capital Partners, a $680 million fund.

"Great Offshore is well poised for a tremendous growth in size and profitability, enabled by a strong management team, a relatively under leveraged balance sheet and a favourable macro environment," Shankar Narayanan, MD, Carlyle India said in a statement here.

Great Offshore provides services for oil and gas players to support their exploration and production activities. It has a fleet of 40 vessels, including drilling rigs, platform supply vessels, multi-support vessels, anchor handling tugs and harbour tugs.

Carlyle Asia Growth Fund invests in "high-growth companies" in India, China, Japan and South Korea. It works with ONGC, Reliance, Cairn, British Gas, Shell, British Petroleum, Exxon Mobil and Saudi Aramco in India and the Gulf.