Part of Kansas City’s Tallgrass Energy sold for $3.2 billion

Blackstone has wrapped up its $3.2 billion purchase of 44 percent of Kansas City-based Tallgrass Energy, the pipeline company with operations in several states including lines feeding the Cushing  terminal.

Blackstone Infrastructure Partners closed the purchase of 100 percent of the membership interests in Tallgrass Energy’s general partner as well as about 44 percent interest in Tallgrass Energy.

The purchase was made from affiliates of Kelso and COmpany, the Energy and Minerals Group and Tallgrass KC, LLC an entity owned by certain members of TGE’s management. Affiliates of GIC, Singapore’s sovereign wealth fund and Enag’as, a Spanish energy company are minority investors in the transaction.

Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.

Blackstone is one of the world’s leading investment firms. Its asst management businesses, with $472 billion in assets under management include investment vehicles focused on infrastructure, private equity and real estate.

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide.

Enagás is a leading international energy company with 50 years’ experience. It is one of the companies with the most LNG terminals in the world. It has a presence in Spain, the USA, Mexico, Chile, Peru and Greece.