ArcLight Capital Partners’ Acquisition of 25% Interest in the Gulf Coast Express Pipeline

Latham & Watkins represented ArcLight in the transaction.

ArcLight Capital Partners, LLC and affiliates (collectively, “ArcLight”) announced that it has completed the acquisition and related financing of a wholly-owned subsidiary of Targa Resources Corp. (NYSE: TRGP) that owns a 25% equity interest in Gulf Coast Express Pipeline for US$857 million.

Targa is a leading provider of midstream services as one of the largest independent midstream infrastructure companies in North America. 

ArcLight is a leading private equity firm focused on energy, infrastructure and energy transition with a successful long-term track record. Founded in 2001, the firm helped pioneer an asset-based approach to investing across the power, renewables, infrastructure and broader energy value chain. 

Latham & Watkins LLP represented ArcLight in the transaction with a corporate team led by partners Chris Cross (Picture) and Justin Stolte, with associates Julian Azran, Denny Lee, Omar Shariff, and Haley Sandoval. The finance team was led by partner Warren Lilien, with associates Cameron Lyons, Dominika Kovacicova, and Jessica Lietz. Advice was also provided on tax matters by partner Katharine Moir, with associate Alexander Farris; on regulatory matters by partner Patrick Nevins; on environmental matters by partner James Barrett and counsel Josh Marnitz; on benefits and compensation matters by partner Brad Williamson, with associate Alisa Hand; on real estate matters by partner Robert Frances; and on antitrust matters by partner Jason Cruise.

Involved fees earner: Julian Azran – Latham & Watkins; James Barrett – Latham & Watkins; Christopher Cross – Latham & Watkins; Jason Cruise – Latham & Watkins; Alexander Farris – Latham & Watkins; Robert Frances – Latham & Watkins; Alisa Hand – Latham & Watkins; Dominika Kovacicova – Latham & Watkins; Denny Lee – Latham & Watkins; Jessica Lietz – Latham & Watkins; Warren Lilien – Latham & Watkins; Cameron Lyons – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Katharine Moir – Latham & Watkins; Patrick Nevins – Latham & Watkins; Haley Sandoval – Latham & Watkins; Omar Shariff – Latham & Watkins; Justin Stolte – Latham & Watkins; Bradd Williamson – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: ArcLight Capital Partners, LLC;