Blackstone completed its $3.3bn acquisition of a stake in Tallgrass Energy.

Blackstone closed the purchase of 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass Energy from affiliates of Kelso & Company, The Energy & Minerals Group and Tallgrass KC, an entity owned by certain members of TGE’s management, for $3.3bn. Affiliates of GIC, Singapore’s sovereign wealth fund, and Enagàs, a Spanish energy company, are minority investors in the transaction. “Tallgrass is managed by an exceptional team that has an outstanding track record of commercial, operational and financial success. This transaction represents a rare opportunity to invest in a large-scale U.S. midstream infrastructure platform that connects high-production supply basins to key markets and is underpinned by long-term contracts. We are excited to partner with and to support the established Tallgrass management team over the long term as they execute on their robust backlog of attractive growth projects,” Sean Klimczak, Blackstone Global Head of Infrastructure.