Navitas Midstream Partners LLC received a line of equity of up to $500 million from an affiliate of private-equity firm Warburg Pincus LLC, the company said June 5.
Members of Navitas’ management and others joined the firm in the investment, the company said, noting that the firm will lead the investment.
R. Bruce Northcutt, the leader of Navitas, said, “We are delighted to have the support of Warburg Pincus to assist us in developing and growing the business. The firm’s deep industry experience and patient capital provides us with a competitive advantage in today’s midstream marketplace.”
“We are pleased to partner with Navitas’ best-in-class management team and to leverage their industry leadership and successful track record to build a business of scale. With our producer-focused, long-term orientation to develop and operate assets, we believe Navitas is well-positioned to become a leading player in the North American midstream landscape,” said In Seon Hwang, the managing director at Warburg Pincus.
Navitas Midstream Partners LLC is based in The Woodlands, Texas. It has completed more than $10 billion in capital projects and $2 billion in acquisitions.
Warburg Pincus LLC is based in New York. It has committed more than $9.5 billion in more than 50 energy investments worldwide.
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