NEW YORK–(BUSINESS WIRE)–Mar. 4, 2019– KKR today announced the signing of a definitive agreement with NextEra Energy Partners, LP (NYSE: NEP or “NEP”) to acquire an equity interest in a newly-formed partnership with NEP that owns a geographically diverse portfolio of ten utility scale wind and solar projects across the United States, collectively consisting of approximately 1,192 megawatts.

“We’re excited to partner with NextEra, a world class renewable energy developer and operator, on this portfolio of high quality contracted wind and solar assets,” said Brandon Freiman, Member of KKR and Head of the Firm’s Infrastructure business in the Americas. “This diverse portfolio of ten fully-operational renewable energy projects, all of which benefit from long-term contracts with investment grade customers, is an excellent addition to our portfolio.”

KKR has a track-record of investing in renewable energy, with significant capital deployed in renewable assets including more than 4 GW of installed renewable capacity. KKR invests in infrastructure assets on a global basis, with $12.6 billion in assets under management within its Infrastructure strategy.

KKR’s investment will be in the form of an equity interest in a newly-formed structured partnership with NEP in which NEP has certain rights to acquire KKR’s interest over time at pre-determined return levels between 3.5 and 7.0 years after the formation of the partnership. KKR’s share of partnership cash flows increases to 99% in the event that such call options are not exercised within certain milestones. KKR’s $900 million investment will be funded via a mix of new term loan financing and equity from its third Global Infrastructure Investors fund, which closed in September 2018 with $7.4 billion in commitments.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190304005504/en/

Source: KKR

Media:
Kristi Huller or Cara Major
Tel: + 1 (212) 750-8300
media@kkr.com

Partners Group, the global private markets investment manager, has provided a debt investment to US-based midstream terminaling and storage company TransMontaigne Partners L.P. (“TLP” or “the Company”) on behalf of its clients. The transaction supports the USD 536 million take-private acquisition of TLP by funds managed and/or advised by energy infrastructure investment manager ArcLight Capital Partners.
Founded in 2005 in Florida, TLP has built a strategic network of 51 midstream terminals and distribution assets spanning six key geographic locations. The Company has expanded its total storage capacity from approximately 5.5 million barrels in 2005 to more than 38 million barrels today. Its terminals and pipelines provide essential storage and transportation services to its customers, who are distributors and marketers for a wide array of petroleum products, including crude oil, chemicals, fertilizers and other liquid products.
Scott Essex, Partner and Head of Private Debt Americas at Partners Group, comments: “We are pleased to partner with ArcLight Capital Partners to provide financing as part of its acquisition of TLP. TLP’s impressive growth has demonstrated the strength of its business model, which is supported by a high-quality customer base with long-term contracts and led by a management team with a track record of creating value.”
Todd Bright, Partner and Head of Private Infrastructure Americas at Partners Group, adds: “This transaction demonstrates our ability to provide a flexible financing solution to energy and infrastructure companies through a collaborative investment led by both our private infrastructure and private debt teams. We anticipate further cross-team collaboration in the future to meet the evolving needs of the infrastructure sector across the capital structure.”

SAN FRANCISCO, February 21, 2019 — Genstar Capital, a leading private equity firm focused on investments in targeted segments of the software, industrial technology, healthcare, and financial services industries, announced that its portfolio company Drilling Info Holdings, Inc, has closed on the acquisition of Cortex, its fifth add-on acquisition since Genstar invested in Drillinginfo in July 2018.  Drillinginfo is the leading SaaS and data analytics company serving the energy industry.

These acquisitions, combined with strong organic growth, strengthen Drillinginfo’s position as a global leader in delivering end to end software and intelligence for energy market participants.  The acquisition of Cortex, a Network-as-a-Service company that enables automation of accounts payable and receivable (AP and AR) processes for the oil and gas industry, comes five months after the acquisition Oildex, the largest oil & gas business automation software firm in North America, transforming the way the industry connects, collaborates, and automates data exchanges in energy.  In December 2018, Drillinginfo acquired MineralSoft, a software platform designed to make managing mineral, royalty, and non-operated working interests easier and more profitable; and earlier acquired 1Derrick and PLS’s research and database business, two highly visible companies in the oil and gas industry that offer market research solutions for sourcing, valuing, and analyzing asset and corporate transactions.

The investment last year by Genstar is allowing Drillinginfo to build on its deep roots as the dominant provider of decision support software for the energy sector. The acquisitions both strengthen the areas in which Drillinginfo is best known and broaden its offerings across the energy value chain to include business automation and commodity data solutions.

Eli Weiss, Managing Director of Genstar, said, “When we acquired Drillinginfo last year we said we would build the business and drive growth in part by expanding service offerings through selective acquisitions to enhance its workflow, analytics and data solutions.  Our goal is to create the leading software service in the energy ecosystem and we are well on the way.  These five acquisitions have greatly broadened the company’s suite of solutions and will deliver new software and more integrated operational intelligence to Drillinginfo’s customers across the entire energy spectrum.  We are still in the early innings of a technology revolution in the energy industry and as a result of these and other initiatives, there is increasing separation between Drillinginfo and the competition.”

Jeff Hughes, President and CEO of Drillinginfo, said, “We are excited to have these impactful acquisitions and the experienced management teams join Drillinginfo to help transform the company, offer new capabilities to our customers and help tap entirely new market opportunities.  As an example, MineralSoft enables customers to effectively manage oil and gas non-operated interests and for the first time allows us to enter this enormous asset class with an integrated software platform.”

Genstar and the Drillinginfo team continue to pursue a robust pipeline of strategic acquisition targets that represent an opportunity to put additional capital behind the company’s strong management team and help develop innovative and transformative solutions to save time, improve efficiency and ultimately drive better, faster decisions in the energy industry.

About Drillinginfo

Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo’s solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 5,000 companies globally from its Austin, Texas, headquarters and has more than 1,000 employees. For more information visit drillinginfo.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion of assets under management and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.

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Chris Tofalli Public Relations
914-834-4334

The Woodlands and New York, February 5, 2019 – Today, Blackstone (NYSE:BX) (“Blackstone”) announced that funds managed by Blackstone Energy Partners L.P. have formed Waterfield Midstream (“Waterfield”), a full-cycle provider of water management services, including water gathering, treatment, recycling and disposal, to provide solutions to producers in the Permian Basin.  Waterfield is Blackstone’s water midstream platform in the Permian Basin and has a $500 million equity commitment to pursue greenfield development and acquisitions of water-related infrastructure, helping producers minimize the environmental impact and operating cost of oil and gas production.

Waterfield is led by Co-Chief Executive Officers Scott Mitchell and Mark Cahill, who previously built and led Anadarko’s and Western Gas’s Permian Basin commercial water infrastructure platform.  Since partnering with Blackstone last summer, Waterfield has put together a highly skilled team that brings together upstream and midstream technical expertise with a deep understanding of the subsurface and operating characteristics of the Permian Basin.  This expertise positions Waterfield to provide reliable, turn-key services for its customers.

Recently, Waterfield signed a 15-year contract with Guidon Energy (“Guidon”) to construct a new system to handle Guidon’s water gathering and disposal needs across its ~40,000 acre position in Martin County, Texas.  In Martin County, Waterfield is targeting deeper disposal zones, as opposed to shallow disposal zones, to provide long-term flow assurance and to support optimal drilling conditions for its upstream customers.  Additionally, Waterfield has entered into an agreement with EagleClaw Midstream (“EagleClaw”) to operate EagleClaw’s water assets in Reeves County, Texas.  These assets consist of 58 miles of gathering lines and 390,000 barrels per day of permitted water disposal capacity.

“We are excited to have partnered with Blackstone,” said Co-CEO Scott Mitchell.  “Blackstone shares our vision of developing a long-term and sustainable water business focused on flow assurance in the Permian Basin.  We are confident that Waterfield can deliver high quality and cost-effective outcomes for our customers.  The opportunity to build Waterfield with the commitment and support of Blackstone’s upstream expertise, capital, industry relationships and successful track record greatly enhances our ability to execute this vision.”

“In addition, we are excited to work with Guidon and EagleClaw,” said Co-CEO Mark Cahill. “They are both exceptional companies with technical expertise, operating excellence, financial discipline and integrity.  We believe Waterfield Midstream brings those same qualities to the water management market in the Permian Basin.”

Angelo Acconcia, Senior Managing Director at Blackstone who oversees its upstream investments, said, “Our partnership with Scott and Mark is illustrative of our strategy of enabling and building best-in-class management teams with proven technical and operational expertise.  We are excited to work with them to build the leading water management platform in the basin and to provide unique, long-term water solutions of scale to upstream companies in the Permian.”

Erik Belz, Principal at Blackstone, added, “We believe that Waterfield addresses a critical need of producers in the Permian Basin both in terms of infrastructure and quality of service.  Waterfield’s subsurface capabilities and engineering track record set it apart from other offerings in the market.”

About Blackstone Energy Partners

Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful track record built on our industry expertise and partnerships with exceptional management teams.  Blackstone has invested and committed approximately $16 billion of equity globally across a broad range of sectors within the energy industry.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $472 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.  Follow Blackstone on Twitter @Blackstone.

Further information is available at www.blackstone.com and at www.waterfieldmidstream.com

Contact:

Paula Chirhart
+1-212-583-5011
paula.chirhart@blackstone.com