I Squared Gives $500M, Midstream Co. For EagleClaw Tie-Up

Law360 (November 2, 2018, 3:48 PM EDT) -- Blackstone-backed EagleClaw Midstream Ventures LLC on Friday said private equity firm I Squared Capital will make a $500 million investment and hand over one of its portfolio companies as part of the private equity firm’s new partnership with EagleClaw’s parent company.

Guided by Vinson & Elkins LLP, Blackstone Energy Partners-owned EagleClaw will acquire Houston-based Pinnacle Midstream, a provider of natural gas gathering and processing and crude oil gathering services. The sale of Pinnacle and the $500 million equity commitment will see Sidley Austin LLP-led I Squared become a partner in Eagle Claw parent company BCP Raptor Holdco.

According to EagleClaw, the...

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