Latham & Watkins Aids GE With $85M Oil Transport Stake

Law360, New York (October 24, 2011, 5:37 PM EDT) -- GE Energy Financial Services has bought an $85 million majority stake in private equity firm Lightfoot Capital Partners LP and plans to take Lightfoot's network of oil terminals public, the company announced Monday.

GE Energy Financial Services, a division of GE Capital, bought a 58 percent interest in Lightfoot, which focuses on energy investments, from asset manager Magnetar Capital LLC. GE will pick up shares in 10 petroleum storage and transport terminals across eight states that Lightfoot owns through subsidiary Arc Terminals LP.

“Our investment in...
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