Leawood, Kan., March 11, 2019 – In a significant move within the energy infrastructure sector, Blackstone Infrastructure Partners (“BIP”), a leading global infrastructure investor, has successfully completed its acquisition of Tallgrass Energy Partners (NYSE: TGE). The transaction, initially announced earlier this year, sees affiliates of Blackstone Infrastructure Partners taking full ownership of Tallgrass Energy’s general partner and acquiring approximately 44 percent of the economic interest in Tallgrass Energy. This major acquisition, valued at approximately $3.2 billion in cash consideration, marks a pivotal moment for both firms and the broader energy landscape.
The sellers in this transaction include affiliates of Kelso & Company, The Energy & Minerals Group, and Tallgrass KC, LLC, an entity representing certain members of Tallgrass Energy’s management. Adding further depth to this investment, affiliates of GIC, Singapore’s sovereign wealth fund, and Enagás, a prominent Spanish energy company, have joined as minority investors, highlighting the international interest and confidence in Tallgrass Energy Partners and its future prospects under Blackstone’s stewardship.
Tallgrass Energy Partners: A Key Player in North American Midstream Infrastructure
Tallgrass Energy Partners (NYSE: TGE) has established itself as a growth-focused midstream energy infrastructure company with operations spanning across 11 states. The company boasts a diverse portfolio of assets, including transportation, storage, terminal, water, gathering, and processing facilities. These critical assets serve some of the most productive crude oil and natural gas basins in the United States, making Tallgrass Energy a vital link in the nation’s energy supply chain. For investors and industry stakeholders alike, understanding the strategic importance of Tallgrass Energy Partners within the midstream sector is crucial.
To delve deeper into the operations and infrastructure network of Tallgrass Energy, further information can be found on their official website: www.tallgrassenergy.com.
Blackstone: A Global Investment Powerhouse Backing Energy Infrastructure
Blackstone (NYSE: BX) is recognized globally as one of the foremost investment firms, managing a staggering $472 billion in assets. Blackstone’s investment philosophy centers on generating positive economic impact and fostering long-term value for its investors, portfolio companies, and the communities they operate within. Their approach involves deploying exceptional talent and flexible capital to empower companies to overcome challenges and capitalize on opportunities. Blackstone’s diverse asset management portfolio encompasses infrastructure, private equity, real estate, public debt and equity, and more, demonstrating its comprehensive investment capabilities across the global financial landscape. This acquisition of Tallgrass Energy Partners underscores Blackstone’s commitment to investing in critical infrastructure assets.
More detailed information about Blackstone’s global operations and investment strategies is available at: www.blackstone.com. For real-time updates, follow Blackstone on Twitter @Blackstone.
Strategic Investors: GIC and Enagás Bring International Expertise
The involvement of GIC and Enagás as minority investors further strengthens the consortium backing Tallgrass Energy Partners. GIC, Singapore’s sovereign wealth fund, brings a long-term investment perspective and a focus on stable, cash-flow generating infrastructure assets. Enagás, a leading international energy company with extensive experience in LNG terminals and gas infrastructure, adds valuable industry expertise to the partnership. Their participation highlights the robust investment proposition of Tallgrass Energy Partners and the confidence in its continued growth and operational excellence within the energy sector.
For more information about GIC and its global investment strategy, please visit: www.gic.com.sg. To explore Enagás’s international energy portfolio and commitment to sustainable practices, visit: www.enagas.es.
Conclusion: A New Chapter for Tallgrass Energy Partners
The completion of the acquisition by Blackstone Infrastructure Partners marks a significant new chapter for Tallgrass Energy Partners. With the backing of Blackstone and strategic co-investors GIC and Enagás, Tallgrass Energy is well-positioned to continue its growth trajectory and solidify its role as a key player in North America’s midstream energy infrastructure. This partnership combines Blackstone’s financial strength and infrastructure investment expertise with Tallgrass Energy’s operational excellence and strategic asset base, promising continued value creation and contribution to the energy sector.
Contacts:
Tallgrass Energy:
Investor and Financial Inquiries
Nate Lien, 913-928-6012
[email protected]
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
[email protected]
Blackstone:
Paula Chirhart
Public Affairs, Blackstone
212-583-5011
[email protected]
