Private Equity

Energy Private Equity Powerhouse

Bracewell has a long history advising on private equity transactions, most notably within the energy sector. We represent sophisticated sponsors and their portfolios in a range of transactions. We draw on the skills and expertise of lawyers in our corporate, finance, project finance, tax, environmental, regulatory and antitrust practices to support the needs of clients at every state of the investment life cycle.

Our clients — which include Bluescape Resources, Brookfield Infrastructure Partners, Canadian Pension Plan Investment Board, Carnelian Energy Capital, Denham Capital, Global Infrastructure Partners, HPS, La Caisse de Depot et Placement du Quebec, Maitlin Patterson, Perella Weinberg and Rockland Capital — have sophisticated understandings of the industries in which they operate. They expect the same from their legal advisors.

We draw on our strengths as a leading global energy law firm to advise private equity clients on oil and gas, power and renewables and infrastructure investments. Our team — which includes former private equity veterans and nationally ranked transactional, finance and regulatory lawyers — understands the importance of strategic legal and business insight in managing risk and enhancing returns. This effectively positions us to help private equity investors and investment funds take advantage of the opportunities presented by the energy transition.

Global Recognition for Excellence

Our broad energy and finance platforms are widely recognized for excellence around the world, including in the key practices needed to support sophisticated private equity transactions.

Chambers Global – Africa-wide Projects & Energy; Middle East-wide Projects & Energy; UK Energy & Natural Resources: Oil & Gas; UK Energy Sector (International & Cross-Border); USA Energy Sector (International & Cross-Border); USA Electricity Regulatory & Litigation; USA Electricity Transactional; USA Oil & Gas Regulatory & Litigation (Band 1); USA Oil & Gas Transactional; USA Projects
Chambers UK – UK-wide Energy & Natural Resources: Oil & Gas; UK-wide Projects
Chambers USA – Nationwide Electricity Regulatory & Litigation; Nationwide Electricity Transactional; Nationwide Oil & Gas Regulatory & Litigation (Band 1); Nationwide Oil & Gas Transactional; Nationwide Projects: Oil & Gas; Nationwide Projects: Power & Renewables: Transactional; Texas Banking & Finance (Band 1); Texas Corporate/M&A
IFLR1000 – UK Project Development: Oil & Gas (Tier 1); UK Bank Lending: Borrower Side; UK Bank Lending: Lender Side; UK M&A; UK Project Development: Power; UK Project Finance; US Banking; US M&A, US Project Development: Oil & Gas; US Project Development: Power; US Project Finance
Legal 500 UK – Bank Lending: Investment Grade Debt and Syndicated Loans; Emerging Markets; Oil & Gas; Power
Legal 500 US – Capital Markets Debt: Advice to Issuers; Commercial Lending: Advice to Borrowers; Commercial Lending; Advice to Lenders; Project Finance: Advice to Lenders; Project Finance: Advice to Sponsors; Corporate; Government Relations; Energy Regulation: Electric Power; Energy Regulation: Oil & Gas (Tier 1); Energy: Renewable/Alternative Power; Energy Transactions: Electric Power; Energy Transactions: Oil & Gas

Market-Leading Engagements

We have been involved in market-leading transactions and projects across multiple jurisdictions.

Alinda Capital Partners, LLC in the 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
Alinda Capital Partners, LLC and GE Energy Financial Services, Inc. in the $1.89 billion agreement to sell SourceGas Holdings LLC to Black Hills Corp.
Apollo Investment Corporation and HPS Investment Partners as secured lenders in the Chapter 11 proceeding of Miller Energy Resources, Inc.
ArcLight Capital Partners, LLC in the purchase of the FERC-regulated Trans-Union Pipeline from Entegra Power Group and related acquisition financing
Arroyo Energy Investment Partners LLC in its acquisition of the Broad River Energy Center, a generation facility in South Carolina, from Energy Capital Partners
Basalt Infrastructure Partners II LP in the acquisition of Detroit Renewable Energy LLC, an integrated renewable energy system comprised of Detroit Thermal, Detroit Renewable Power and Hamtramck Energy Services
Bluescape Energy Partners-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
Bluescape Resources Company LLC in its equity investment in Clean Line Energy Partners LLC

Bluescape Resources Company LLC in the $2.5 billion equity investment in FirstEnergy Corp., which includes $1.62 billion in mandatory convertible preferred equity and $850 million of common equity
Brookfield Infrastructure Group Corporation in the 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 in the $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
The Carlyle Group and CVC Capital Partners Fund VI in connection with the debt financing aspects of Neptune Energy Group’s acquisition of a majority stake in ENGIE E&P International S.A. for $3.9 billion
First Reserve Corporation in connection with a long-term hedge arrangement to enable the acquisition and financing of the 298 MW Kingfisher Wind Project located in Oklahoma — Commodities Deal of the Year, 2015 Commodity Business Awards; Financial Deal of the Year, 2015 Platt Global Energy Awards, Deal of the Year, 2016 Energy Risk Awards
Global Infrastructure Partners in its $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
Global Infrastructure Partners in a 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
Global Infrastructure Partners and affiliated funds in the 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
HPS Investment Partners, LLC in the 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
Kingfisher Midstream, LLC and HPS Investment Partners, LLC in connection with the 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
La Caisse de depot et placement du Quebec in the 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
La Caisse de Depot et Placement du Quebec in 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
Perella Weinberg Partners in connection with ATP bankruptcy case with respect to various overriding royalty interests held by Perella Weinberg Partners
Rockland Capital, LLC in the acquisition of three natural gas-fired generation facilities in Illinois, with a combined capacity of 1,166 MW, from an affiliate of Ameren Corporation
Rockland Capital, LLC in its acquisition of 100 percent of the equity interests in Michigan Power LP, LLC, which owns a 125 MW natural gas-fired combined cycle cogeneration facility located in Ludington, Michigan, from affiliates of ArcLight Capital Partners, LLC
Sol Systems LLC in a joint venture with Nationwide Mutual Insurance Co. for the formation of the Helios Infrastructure Fund, which will acquire and own over 330 MW of utility and commercial solar assets

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Energy Private Equity Powerhouse

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