Investment Summary

GFI Energy Ventures and Oaktree Capital Management Invest In Longhorn Pipeline Holdings

On January 1, 2003, private equity firm GFI Energy Ventures and asset manager Oaktree Capital Management invested in energy services and equipment company Longhorn Pipeline Holdings

Investment Highlights
  • This is GFI Energy Ventures’ 2nd and Oaktree Capital Management’s 2nd transaction in the Energy Services and Equipment sector.
  • This is GFI Energy Ventures’ 8th and Oaktree Capital Management’s 11th transaction in the United States.
  • This is GFI Energy Ventures’ 1st and Oaktree Capital Management’s 1st transaction in Texas.
Investment Fate
  • Longhorn Pipeline Holdings was sold to a strategic buyer in 2006.
  • Longhorn Pipeline Holdings was divested to a consortium of strategic buyers in 2010.

Investment Summary

Date 2003-01-01
Target Longhorn Pipeline Holdings
Sector Energy Services and Equipment
Investor(s) GFI Energy Ventures
Oaktree Capital Management
Deal Type Growth Capital

Target

Longhorn Pipeline Holdings

Houston, Texas, United States
Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

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Investor(S) 2

Investor

GFI Energy Ventures

Los Angeles, California, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.


DEAL STATS #
Overall 10 of 32
Sector: Energy Services and Equipment M&A 2 of 7
Type: Growth Capital M&A Deals 2 of 3
State: Texas M&A 1 of 7
Country: United States M&A 8 of 30
Year: 2003 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-13 LineSoft

Spokane, Washington, United States

LineSoft Corp. is a provider of engineering design software applications and consulting services to the utility industry.

Sell $42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-21 Caminus

New York, New York, United States

Caminus Corp. is a provider of software services to the power and gas trading industry.

Sell $159M
Investor

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


DEAL STATS #
Overall 13 of 129
Sector: Energy Services and Equipment M&A 2 of 5
Type: Growth Capital M&A Deals 2 of 17
State: Texas M&A 1 of 11
Country: United States M&A 11 of 83
Year: 2003 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-13 LineSoft

Spokane, Washington, United States

LineSoft Corp. is a provider of engineering design software applications and consulting services to the utility industry.

Sell $42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-21 Caminus

New York, New York, United States

Caminus Corp. is a provider of software services to the power and gas trading industry.

Sell $159M