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Blackstone Infrastructure Partners Agrees to Acquire Controlling Interest in Tallgrass Energy for $3.3B

Blackstone Infrastructure Partners Agrees to Acquire Controlling Interest in Tallgrass Energy for $3.3B Background Decorative Image

Vinson & Elkins advised Blackstone Infrastructure Partners in connection with its agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of Tallgrass Energy, LP’s (TGE) management, to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction.

Tallgrass is a growth-oriented midstream energy infrastructure company operating across 11 states. Blackstone is one of the world’s leading investment firms.

The transaction was led by V&E corporate partners Keith Fullenweider, Alan Beck and Lande Spottswood, with assistance from senior associates Crosby Scofield and Claire Campbell and associates Alex Robertson, Leslie Vaughn, Jonathan Sapp, Jane Ehinmoro and Kelly King. Also advising were finance partner David Wicklund and associates Caitlin Snelson and Derrik Sweeney; tax partners Ryan Carney, John Lynch and Gary Huffman, senior associate Allyson Seger and associate Sam Guthrie; executive compensation and benefits partner Stephen Jacobson and associates Gina Hancock and Mary Daniel Morgan; employment and labor partner Sean Becker and associate Robert Sheppard; regulatory counsel Damien Lyster and Suzanne Clevenger and associates Victoria Galvez and Tray Smith; environmental partner Larry Nettles, senior associate Matthew Dobbins and associate Jennifer Cornejo; real estate counsel Scot Dixon; and antitrust partner Neil Imus.

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