AIMCo to invest $500 mln in Howard Energy Partners
Alberta Investment Management Corp (AIMCo) has agreed to acquire up to US$500 million of Series B preferred units of Howard Energy Partners (HEP), a San Antonio, Texas-based diversified midstream company. AIMCo has already bought US$300 million of the company's units and has committed to buy an additional US$200 million of units in the future. Founded in 2011, HEP has assets in the Eagle Ford Shale region of South Texas, as well as in the Marcellus Shale region in Pennsylvania. U.S. infrastructure investment firm Alinda Capital Partners acquired a 59 percent interest in the company in late 2013. HEP is also backed by EnLink Midstream.
22 August 2016•3 mins read
