Carlyle Group joined with natural gas producer Diversified Energy to invest as much as $2 billion in mature oil-and-gas fields, as the private-equity firm seeks to capitalize on rising demand for energy by backing assets that generate steady cash flow. Investing alongside Carlyle will make it easier for the publicly traded company to acquire natural-gas and oil fields across the U.S., said Akhil Bansal, head of asset-backed finance in Carlyle’s global credit group. “Just from a macro perspective, we think it bodes well for investing in mature, producing energy assets.”

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