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Stonepeak Partners LP

Company Summary

Description

Stonepeak Infrastructure Partners is an independent investment firm focused on North American infrastructure opportunities. They invest in traditional infrastructure assets that should exhibit lower investment volatility, strong inflation linkage, and attractive cash-on-cash yields.

Website

https://stonepeakpartners.com/investments/

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Company Transactions

Date: 1/14/2022
Type: Acquisition

BUYERS:
  • Targa Resources Corp.
    • SELLERS:
  • Targa & Stonepeak DevCo
  • Stonepeak Partners LP
    • ASSETS:
  • Gulf Coast Express Pipeline
  • Grand Prix NGL Pipeline
  • Cedar Bayou Fractionator
    • DETAILS:

    COST: 925 $MM

    NOTES:
    Targa has entered into a deal to repurchase interests in their development company joint ventures from Stonepeak Partners for $925 million. Pro-forma the closing, Targa will own a 75% interest in the Grand Prix NGL Pipeline, 100% of the Mont Belvieu Train 6 NGL Fractionator and a 25% stake in the Gulf Coast Express Pipeline.
    REGIONS:
  • Lower 48