Investment Summary

Blackstone Credit Invests In ELC

On May 20, 2022, lender Blackstone Credit invested in energy services and equipment company ELC from EIG Partners

Investment Highlights
  • This is Blackstone Credit’s 1st transaction in the Energy Services and Equipment sector.
  • This is Blackstone Credit’s 9th transaction in the United States.
  • This is Blackstone Credit’s 1st transaction in Georgia.

Investment Summary
Date 2022-05-20
Target ELC
Sector Energy Services and Equipment
Investor(s) Blackstone Credit
Sellers(s) EIG Partners
Deal Type Stake Purchase

Target

ELC

Savannah, Georgia, United States
ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.

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Investor(S) 1

Investor

Blackstone Credit

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
Size Mega
Type Sector Agnostic
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.

DEAL STATS #
Overall 12 of 12
Sector (Energy Services and Equipment) 1 of 1
Type (Stake Purchase) 1 of 1
State (Georgia) 1 of 1
Country (United States) 9 of 9
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 ION Solar

Provo, Utah, United States

ION Solar is a full-service solar company that offers the highest-quality solar systems with world-class support. ION Solar was founded in 2013 and is based in Provo, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-17 Westland Insurance

Surrey, British Columbia, Canada

Westland Insurance is an innovator, engages in personal and commercial insurance products. Westland Insurance was founded in 1980 and is based in Surrey, British Columbia.

Sell -

Seller(S) 1

SELLER

EIG Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 39.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EIG Global Energy Partners specializes in private investments in energy and energy-related infrastructure around the world. Specific areas of interest include upstream oil and gas, midstream, power generation, renewables, and related infrastructure. EIG manages a variety of funds that provide hybrid debt and structured equity financing solutions to energy projects and companies. The Firm also offers credit/direct lending vehicles that target higher credit-quality project finance instruments. EIG Global Energy Partners is headquartered in Washington, District of Columbia.

DEAL STATS #
Overall 8 of 11
Sector (Energy Services and Equipment) 2 of 3
Type (Stake Purchase) 2 of 2
State (Georgia) 1 of 1
Country (United States) 6 of 9
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-06 Great Western Petroleum

Denver, Colorado, United States

Great Western Petroleum is an independent oil & gas company focused on the liquids-rich area of the DJ Basin. Great Western Petroleum was founded in 2005 and is based in Denver, Colorado.

Sell $543M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-08 Wattbridge

Houston, Texas, United States

Wattbridge is an independent power producer that serves as a bridge between emissions-intensive power generation and a fully renewable future, WattBridge works to solve intermittency challenges and enable wind and solar energy growth. Wattbridge was formed in 2019 and is headquartered in Houston, Texas.

Buy -
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