The Carlyle Group Makes Strategic Investment in Crimson Midstream

The Carlyle Group (NASDAQ: CG) made a strategic equity investment in Crimson Midstream Holdings, LLC, a provider of crude oil transportation and storage services.

Carlyle’s Global Infrastructure Opportunity Fund provided the equity for this investment.

Led by John Grier, Founder and Chief Executive Officer, Crimson is a provider of crude oil transportation and storage services in California, Louisiana and offshore Gulf of Mexico. The company safely and reliably operates more than 2,000 miles of pipeline transporting approximately 400,000 barrels of crude oil per day to end users. Crimson is led by a management team with deep experience in pipeline operations and management.
The company is actively expanding U.S. crude export capacity, including development of the Swordfish Pipeline. The binding open season for the Swordfish Pipeline is underway and, once complete, will utilize existing assets to provide near-term connectivity for shippers between St. James and Raceland, Louisiana to export markets via the Louisiana Offshore Oil Port LLC (LOOP) terminal facility in Clovelly, Louisiana.

This partnership will help enhance the company’s support of shippers on its Gulf of Mexico, Louisiana and California pipeline systems and grow its presence in these regions and beyond as demand for U.S. crude export infrastructure increases.

FinSMEs

03/02/2019

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