NGL Energy Partners LP Acquires Hillstone Environmental Partners from Golden Gate Capital

Golden Gate Capital Launches Stonehill Environmental Partners and Acquires Waterfield Midstream Assets

April 15, 2021

Energy

Golden Gate Capital launched a new energy infrastructure platform, Stonehill Environmental Partners, led by CEO Jay Parkinson, and is the platform's anchor investor. As Stonehill's first acquisition, Golden Gate acquired the assets of Waterfield Midstream in the Permian Basin (Martin County, Midland Basin) to serve as the flagship investment for the water pipeline, recycling and disposal business.

Energy Transfer Acquires WTG Midstream for $3.25 Billion

May 28, 2024

Oil & Gas

Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.

Energy Transfer LP to Acquire Crestwood Equity Partners LP

August 16, 2023

Oil & Gas

Energy Transfer LP has entered into a definitive agreement to acquire Crestwood Equity Partners LP in an all-equity transaction valued at approximately $7.1 billion (including assumed debt). The deal extends Energy Transfer’s midstream footprint deeper into the Williston, Delaware and Powder River basins and adds gathering, processing, storage and terminal assets that complement its existing NGL, crude and export capabilities.

Blackstone Infrastructure Partners Acquires ~44% Economic Interest in Tallgrass Energy

February 5, 2019

Energy

Affiliates of Blackstone Infrastructure Partners agreed to acquire 100% of the general partner membership interests and approximately a 44% economic interest in Tallgrass Energy, LP from Kelso & Co., The Energy & Minerals Group and certain management investors for about $3.3 billion in cash. Singapore sovereign wealth fund GIC will be a minority investor in the transaction; the deal represents an ownership transition and provides capital and strategic support for Tallgrass’s midstream growth projects.

Engelhart Commodities Trading Partners Acquires Trailstone

June 10, 2024

Energy

Engelhart Commodities Trading Partners has agreed to acquire Trailstone from Riverstone LLC, subject to regulatory approval with completion expected in Q3 2024. The deal combines Engelhart’s global commodities trading platform with Trailstone’s analytics and proprietary software to strengthen power and gas trading capabilities and support the clean energy transition.

Blackstone GP Stakes Acquires Minority Stake in Great Hill Partners

November 12, 2021

Financial Services

Funds managed by Blackstone GP Stakes have acquired a minority ownership interest in Boston-based private equity firm Great Hill Partners. The minority investment is intended to support Great Hill’s continued growth and investment strategy; Evercore served as financial advisor to Great Hill while Kirkland & Ellis and Fried Frank served as legal counsel to Great Hill and Blackstone, respectively.