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Private Equity

Private Equity

Private equity investing, including both debt and equity, is a core component of our transactions business. Our private equity experience has a particular focus in oil and gas, power and infrastructure investments, but also includes a wide variety of other industries. We handle all types of transactions on behalf of private equity clients, including joint ventures, distressed investments and exit transactions.

Bracewell offers a full-service private equity transactional practice, drawing on the experience of numerous lawyers with diverse legal knowledge, including corporate transactional, finance, project finance, tax, environmental, regulatory and anti-trust.

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Recent Notable Matters

Upper Bay Infrastructure Partners Acquisition of Tidewater Transportation & Terminals, a multi-commodity transportation, terminal, and marine construction and repair company serving the Pacific Northwest, from Stonepeak Infrastructure Partners. Upper Bay Infrastructure Partners was the lead investor of a group consisting of Ullico, funds and accounts under management by BlackRock, Silverfern and certain other co-investors.

Kingfisher Midstream, LLC and HPS Investment Partners, LLC — merger agreement among Kingfisher, Silver Run Acquisition Corporation II and Alta Mesa Holdings, LP to form Alta Mesa Resources, Inc. This transaction was an UP-C structure created with the Riverstone SPAC

The Carlyle Group and CVC Capital Partners Fund VI — debt financing aspects of Neptune Energy Group's acquisition of a majority stake in ENGIE E&P International S.A. for $3.9 billion

Global Infrastructure Partners and affiliated funds — acquisition of 50 percent interest in Hess Infrastructure Partners LP's crude oil and natural gas infrastructure assets in the Bakken Shale for $2.675 billion

Alinda Capital Partners, LLC and GE Energy Financial Services, Inc. — $1.89 billion agreement to sell SourceGas Holdings LLC to Black Hills Corp.

First Reserve Corporation — long term hedge arrangement to enable the acquisition and financing of the 298 MW Kingfisher Wind Project located in Oklahoma; named "Commodities Deal of the Year" at the 2015 Commodity Business Awards, 2015 Financial Deal of the Year at the Platts Global Energy Awards and Deal of the Year at the 2016 Energy Risk Awards

Sol Systems LLC — joint venture with Nationwide Mutual Insurance Co. for the formation of the Helios Infrastructure Fund, which will acquire and own over 330 megawatt of utility and commercial solar assets

Bluescape Resources Company LLC — $2.5 billion equity investment in FirstEnergy Corp., which includes $1.62 billion in mandatory convertible preferred equity and $850 million of common equity

Apollo Investment Corporation and HPS Investment Partners — as secured lenders in the Chapter 11 proceeding of Miller Energy Resources, Inc.

La Caisse de depot et placement du Quebec — investment of up to approximately $593 million in AES US Investments, Inc. and IPALCO Enterprises, Inc., subsidiaries of The AES Corporation and parent companies of Indianapolis Power & Light Company, for an aggregate direct and indirect interest in IPALCO of up to 30 percent

Brookfield Infrastructure Group Corporation — sale of Cross Sound Cable Company, the owner of a high voltage direct current electric transmission system connecting the New England and New York power grids, to A1A Energy North America LLC, an affiliate of Argo Infrastructure Partners

Canada Pension Plan Investment Board — $450 million commitment by its wholly-owned subsidiary, CPPIB Credit Investments, to LongPoint Minerals, LLC, an entity formed to buy minerals and royalties in the United States

ArcLight Capital Partners, LLC — purchase of the FERC-regulated Trans-Union Pipeline from Entegra Power Group and related acquisition financing

Basalt Infrastructure Partners II LP — acquisition of Detroit Renewable Energy LLC, an integrated renewable energy system comprised of Detroit Thermal, Detroit Renewable Power and Hamtramck Energy Services

Rockland Capital, LLC — acquisition of three natural gas-fired generation facilities in Grand Tower, IL; Elgin, IL; and Gibson City, IL, with a combined capacity of 1,166 MW, from an affiliate of Ameren Corporation

Perella Weinberg Partners — ATP bankruptcy case with respect to various overriding royalty interests held by Perella Weinberg Partners

La Caisse de Depot et Placement du Quebec — partnership with GE Energy Financial Services, to jointly acquire Southern Star Central Corporation, owner of the Southern Star Central interstate gas pipeline, from Morgan Stanley Infrastructure

Global Infrastructure Partners — $250 million preferred equity investment in Caprock Midstream to fund the expansion of Caprock's natural gas gathering and processing assets in the Permian Basin

HPS Investment Partners, LLC — convertible preferred stock and senior notes recapitalization of (and multiple follow-on investments in) the parent of Alta Mesa Holdings, LP, an oil and gas acquisition, exploitation, exploration and production company, and subsequent preferred stock investment by Bayou City Energy

Rockland Capital, LLC — acquisition of 100 percent of the equity interests in Michigan Power LP, LLC, which owns a 125 megawatt natural gas-fired combined cycle cogeneration facility located in Ludington, Michigan, from affiliates of ArcLight Capital Partners, LLC

Arroyo Energy Investment Partners LLC — acquisition of the Broad River Energy Center, a generation facility in South Carolina, from Energy Capital Partners

Bluescape Resources Company — equity investment in Clean Line Energy Partners LLC

Alinda Capital Partners sale of NorTex Midstream Partners, LLC, a company owned by funds managed by Alinda that own Texas gas storage facilities, to a subsidiary of Castleton Commodities International LLC

Bluescape Energy Partners, LLC Bluescape Group-backed E&P portfolio companies, Arrow Rock and White Marlin, in a merger of equals with TPG Capital-backed E&P portfolio company, Petro Harvester, to form Rockall Energy

Global Infrastructure Partners preferred equity investment of up to $200 million in Dos Rios Crude Intermediate LLC, a subsidiary of Noble Midstream Partners LP formed to hold Noble Midstream's 30 percent equity interest in the EPIC Crude Pipeline, which is being designed with an initial capacity of 590 thousand barrels per day from the Permian Basin and Eagle Ford to the Gulf Coast

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