Stonepeak Infrastructure Partners makes $500mm equity commitment in Sage Midstream Ventures

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Stonepeak Infrastructure Partners makes $500mm equity commitment in Sage Midstream Ventures

Sage Midstream Ventures recently announced that it has received an equity commitment of up to US$500 million from Stonepeak Infrastructure Partners, a private equity firm focused on infrastructure investments in the energy, power & renewables, transportation, utilities, water and communications sectors, to pursue midstream acquisition and development opportunities throughout North America's energy industry.

Headquartered in Houston, Texas, Sage is led by President Greg Bowles, Vice President of Business Development John Steen, Vice President of Engineering and Operations Nick Cocavessis, and Vice President of Finance Vlad Klenikov.  Mr. Bowles was previously Executive Vice President of Lone Star NGL, a division of Energy Transfer Partners, L.P., where he was responsible for all commercial operations and development. 

Sage will pursue acquisition and development opportunities across the hydrocarbon value chain, including natural gas, natural gas liquids, crude oil, petrochemicals and refined products, with a broad focus on transportation, processing, fractionation, storage and marketing services. 

Mr. Bowles said:

 "We are thrilled to have partnered with Stonepeak to pursue energy infrastructure projects and believe there is a tremendous amount of opportunity in today's energy markets.  We look forward to leveraging our combined expertise and resources to create a significant asset footprint that enables us to provide outstanding service to domestic and international producers and consumers of energy products."

Michael Dorrell, Senior Managing Director and co-founder of Stonepeak, added:

 "The Sage management team has extensive experience across the oil & gas midstream sector and we are delighted to partner with them as they pursue investments in North American energy infrastructure. We believe the current market environment will present a wide range of opportunities for Sage and we look forward to a successful long term partnership."

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