Kirkland & Ellis represented a consortium led by EOC Partners and Elda River Capital in a preferred equity investment in Brazos Midstream Holdings III, a Permian Basin midstream company backed by Old Ironsides Energy, EnCap Flatrock Midstream, Brazos management and other strategic investors. The proceeds of the investment will be used to, among other things, fund construction of new-build gathering and processing infrastructure in the Midland Basin, culminating in 500 million cubic feet per day (MMcf/d) total processing capacity and 260 miles of natural gas gathering pipelines and 10 compressor stations.