Trinity Gas Storage, LLC has announced the successful equity funding from Transition Equity Partners, LLC (TEP), along with debt financing led by Investec who acted as Joint Lead Arranger and Administrative Agent. The equity consortium includes Pan Capital Management, Abrdn, SailingStone Capital Partners LLC, and Rice Investment Group. This funding marks a crucial milestone in the development of Trinity’s natural gas storage facility, which is set to play a pivotal role in fortifying energy security across Texas.
Latham & Watkins LLP represents SailingStone Capital Partners LLC in the transaction with a corporate deal team led by Houston partner James Garrett, with associates John Daywalt and Vera Bespalova. Advice was also provided on tax matters by Houston partner Jared Grimley.
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