Intensity Infrastructure Partners LLC has secured a private equity commitment from EIV Capital that will allow the Tulsa, Okla.-based midstream company to acquire, construct and operate assets in the U.S., according to a Jan. 31 press release.
EIV and Intensity didn’t disclose the amount committed to the midstream company. In February, EIV Capital and co-investment vehicles reported closing a fourth fund, EIV Capital Fund IV LP, after raising $702 million. The firm said at the time it has more than $900 million to deploy into new investments.
Intensity is led by Joseph Griffin and Derek Gipson and an executive team with extensive experience that has built, operated, engineered and marketed midstream activities, primarily in the Permian and Powder River basins, the Bakken and various Midcontinent plays.
Intensity team has “successfully invested in excess of $2 billion in the construction and acquisition of midstream assets throughout the value chain, including gas gathering, compression, processing and treating, crude oil and NGL gathering and transmission,” the company said in the press release.
“Our executive team has devoted our careers to the midstream space and strongly believes there will be increasing opportunities to partner with producers and continue to build and optimize midstream assets for our customers,” said Griffin, CEO of Intensity.
David Finan, managing partner at EIV, said Intensity brings “a robust background that spans numerous basins and commodities, positioning the team well to partner with producers seeking midstream solutions.”
Greg Davis, partner at EIV, said that Intensity is a proven team well suited to capitalize on what the firm sees as an attractive opportunity set in the midstream sector.
“The Intensity team is the perfect complement to our midstream efforts,” he said.
Kirkland & Ellis LLP served as legal counsel to EIV and Holland & Knight LLP served as legal counsel to Intensity.
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