GREENWICH, Conn. – Astatine Investment Partners (“Astatine”), formerly known as Alinda Capital Partners, a leading private equity firm specializing in infrastructure investments, has announced the successful sale of its stake in HEP Catalyst InvestCo (“Catalyst”). This joint venture held a 50% interest in a crucial oil gathering and gas processing system located in the prolific Permian Basin. The buyer was Howard Energy Partners (“Howard Energy”), a San Antonio, Texas-based diversified midstream energy company and Astatine’s joint venture partner in Catalyst.
Catalyst Midstream Partners, partially owned by HEP Catalyst InvestCo, operates a comprehensive midstream infrastructure network in the Delaware Basin, part of the greater Permian Basin. This network includes an extensive oil gathering pipeline system and three advanced gas processing plants. Astatine Investment Partners initially invested in Catalyst in 2017, forming a joint venture with Howard Energy. Devon Energy, a major producer in the region, is the anchor producer and retains the remaining 50% ownership of Catalyst Midstream Partners.
Under Howard Energy’s leadership as the developer and operator, Catalyst Midstream Partners has experienced significant growth since 2017. Starting from a modest oil gathering system, it has evolved into a sophisticated gathering and processing hub. It now features three cryogenic processing facilities with a combined capacity of 600 million cubic feet per day of natural gas, serving multiple prominent upstream producers in the Permian Basin. This successful exit from Catalyst marks Astatine Investment Partners’ second successful investment partnership with Howard Energy. Previously, Astatine held a substantial stake in Howard Energy itself from 2013 to 2022, demonstrating a long-standing and fruitful relationship between the two firms.
“Our relationship with Howard Energy has been one of our most enduring and successful,” stated Jim Metcalfe, CEO & Co-Managing Partner at Astatine Investment Partners. “The divestiture of our interest in Catalyst concludes a remarkable growth story, from the initial construction of a single plant to the development of a comprehensive midstream system underpinned by strong contracts. We extend our best wishes to Mike Howard and his leadership team as they guide Catalyst and the broader Howard Energy business into their next phase of expansion.”
About Astatine Investment Partners
Astatine Investment Partners, a leading independent private equity firm in the mid-market segment, concentrates on infrastructure investments across North America and Europe. With offices in Greenwich, CT, and London, UK, Astatine manages funds that strategically invest in key infrastructure sectors. These sectors include digital infrastructure, transportation, utility-related assets, and essential services. Astatine’s investment philosophy centers on generating attractive, risk-adjusted returns for its investors, combining capital appreciation with a strong emphasis on consistent cash yield.
Established in 2005 as Alinda Capital Partners, Astatine Investment Partners boasts a rich history as one of the world’s most experienced infrastructure investment firms. The name change to Astatine Investment Partners in 2022 reflects the firm’s strategic evolution. While initially focused on large-cap, core infrastructure, Astatine shifted its focus from 2014 onwards to the mid-market, core-plus space, identifying significant opportunities for value creation. Astatine specializes in complex transactions, including carve-outs, taking public companies private, and establishing strategic partnerships to drive growth and innovation in the infrastructure sector. For deeper insights into Astatine Investment Partners and its investment strategies, please visit: https://astatineip.com/.
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Longacre Square Partners
Dan Zacchei / Kate Sylvester
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