Blackstone Infrastructure takes control of Tallgrass

Blackstone Infrastructure Partners agreed Jan. 31 to buy a controlling stake of Tallgrass Energy in a deal valued at $3.3 billion. Kelso & Co, The Energy & Minerals Group, and Tallgrass KC LLC, an entity owned by certain members of TGE’s management, are selling. GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction. The deal includes 100 percent of the membership interests in TGE’s general partner, as well as about 44 percent economic interest in Tallgrass. The transaction is expected to close in first quarter. Tallgrass, of Leawood, Kansas, is a midstream energy infrastructure company operating across 11 states.

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