GE Energy Financial Services, a unit of GE, is to acquire a majority stake in Lightfoot Capital Partners through a $85 million (€61 million) investment.
The company is to become a majority holder of Lightfoot Capital Partners after purchasing 58% of the New York, US-based company from an investment vehicle managed by an affiliate of Magnetar Capital.
Lightfoot Capital is the majority owner of Arc Terminals, which operates petroleum product terminals throughout eight US states.
‘We are deploying our capital expertise and potentially some additional assets to support Lightfoot Capital’s transition into a successful Master Limited Partnership,’ says Dan Castagnola, a managing director at GE Energy Financial Services in Houston.
GE Energy Financial Services also holds an interest in a Master Limited Partnership and Regency Energy Partners, a provider of midstream natural gas.