Sixth Street Invests $600 Million in Pinnacle Gas Services Minority Equity Stake

Comstock Resources sold a 27% non-controlling minority equity interest in its midstream subsidiary Pinnacle Gas Services LLC to certain funds managed by Sixth Street for $600 million. The investment values Pinnacle at a $2.2 billion enterprise value, while Comstock retained 73% controlling equity and continues to manage, operate, and control Pinnacle under a management services agreement.