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☆ Stonepeak Partners COO on Textainer acquisition and the state of freight
  + stars: | 2023-10-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStonepeak Partners COO on Textainer acquisition and the state of freightLuke Taylor, Co-COO of Stonepeak Partners, discusses his company's recently announced acquisition of intermodal transport giant Textainer for $7.4 billion.
Persons: Luke Taylor Organizations: Stonepeak, Stonepeak Partners
☆ ADIA weighs bid for 2 bln stg stake in UK's Associated British Ports - Bloomberg News
  + stars: | 2023-02-21 | by ( ) www.reuters.com   time to read: +1 min
Feb 21 (Reuters) - Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is among parties considering a bid for a 34% stake in Associated British Ports that could be valued at about 2 billion pounds ($2.42 billion) or more, Bloomberg News reported on Tuesday. Stonepeak Partners LP and British Columbia Investment Management Corp are among the other investors interested in the stake being sold by Canada Pension Plan Investment Board (CPPIB), the report said, citing people familiar with the matter. Deliberations are in the early stages, the report said, adding that other suitors, including existing shareholders, could also emerge. ADIA, Associated British Ports, British Columbia Investment Management, Stonepeak and CPPIB did not immediately respond to Reuters' requests for comment. ($1 = 0.8256 pounds)Reporting by Aarati Krishna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Targa to buy remaining stake in NGL pipeline from Blackstone for $1.05 bln
  + stars: | 2023-01-03 | by ( ) www.reuters.com   time to read: +1 min
Jan 3 (Reuters) - Targa Resources Corp (TRGP.N) said on Tuesday it will buy the remaining stake in its Grand Prix NGL Pipeline that it does not already own, for $1.05 billion in cash from Blackstone Inc's (BX.N) energy unit. Targa, which will purchase 25% stake from Blackstone Energy Partners, acquired 75% interest in the pipeline last year when it repurchased interests in its development company joint ventures from investment firm Stonepeak Partners LP for about $925 million. The Stonepeak deal also included 100% interest in its Train 6 fractionator in Mont Belvieu, Texas, and a 25% equity interest in the Gulf Coast Express Pipeline. Grand Prix has the capacity to transport up to 1 million barrels per day (bpd) of natural gas liquids (NGL) to the NGL market hub at Mont Belvieu. Targa said on Tuesday the price of the Blackstone Energy Partners deal, which is expected to close in the first quarter of 2023, represents about 8.75 times Grand Prix's estimated 2023 adjusted EBITDA multiple.
☆ EXCLUSIVE Stonepeak Partners eyes as much as $20 bln for North America infrastructure fund -sources
  + stars: | 2022-11-22 | by ( Chibuike Oguh | ) www.reuters.com   time to read: +3 min
The fundraising plans underscore strong demand from investors for infrastructure assets, whose inflation-linked cash flows provide a shield from soaring prices. The predecessor fund, Stonepeak Infrastructure Fund IV, returned 1.08 times its investors' money as of the end of June this year, according to the Oregon Public Employees Retirement Fund (PERS), which had made a $500 million commitment. The prior $7.2 billion Stonepeak Infrastructure Fund III, which was raised in 2018, had returned 1.59 times its investors' money, PERS data showed. The core fund aims to invest in infrastructure assets that provide inflation-linked profits stemming from long-term contracts. The New York-based firm has about $52 billion in assets under management spread across the Americas, Europe, Asia and Australia.
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