Carlyle invests in coal-mining operation

Carlyle invests in coal-mining operation

An investor group is injecting $117 million into Targe Energy, an Aspinwall, Pa., coal mining and natural gas drilling firm.

The money, most of which came from Carlyle/Riverstone Global Energy and Power Fund III LP, will be used to expand coal and waste coal businesses and to drill for coal bed methane in the Appalachian Basin, the Pittsburgh Business Times said Wednesday.

Carlyle/Riverstone is contributing $100 million to the venture, with the rest coming from smaller participants.

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