Tiger Infrastructure Partners and Kiewit Corporation Create Joint Venture to Invest $500 million in Midstream Energy Companies and Assets
NEW YORK, June 5, 2012 /PRNewswire-iReach/ -- TKT Midstream Partners ("TKT" – Tiger Kiewit Turnkey), a newly-formed company, has received equity commitments from Kiewit Corporation ("Kiewit") and Tiger Infrastructure Partners ("Tiger") to support a strategy to invest up to $500 million in midstream energy sector companies and assets.
TKT will design, build, own and operate midstream assets and networks on behalf of North American exploration and production ("E&P") companies. The joint venture will focus on delivering the customized infrastructure design, construction, ownership and operation needed to bring hydrocarbons to market. TKT aims to capture demand by E&P companies for infrastructure operators who have the resources and experience to provide certainty of timely, world-class execution for infrastructure build-out -- such as gathering systems, pipelines and processing plants -- allowing them to focus on their core business of exploration and production.
Emil W. Henry, Jr., founder and managing partner of Tiger Infrastructure Partners, added: "It is an honor to partner with North America's pre-eminent construction firm to bring much needed turnkey capability to energy producers at the forefront of the shale revolution. Kiewit brings more than 100 years of experience in the design and construction of infrastructure and, in my judgment, is unrivaled in its reputation for superb and reliable execution of infrastructure projects. Kiewit also brings a wealth of long-standing client relationships."
"TKT will nicely complement Kiewit's core construction business and offer value to E&P clients," said Bruce Grewcock, chief executive officer of Kiewit. "With Tiger, we're making an important investment in the energy sector, which we believe will provide even more opportunities for E&P companies and our business to grow."
Kiewit is one of North America's largest and most respected construction, mining and engineering organizations. With 2011 revenues of more than $10 billion, Kiewit offers construction and engineering services to a broad range of public and private clients in a variety of markets, including power, oil, gas and chemical, transportation, waste/wastewater, heavy civil, building and mining.
Marc H. Blair, managing director and head of Natural Resources for Tiger added "TKT presents a unique opportunity to invest in the midstream space in a highly differentiated manner. We believe TKT will offer a superior value proposition to producers."
About Tiger Infrastructure Partners
Tiger Infrastructure Partners LP is the primary investment arm of Henry Tiger LLC, a partnership between Emil W. Henry, Jr. and sophisticated global financial investors, including Tiger Management and members of the Ziff family in New York City. The firm focuses on acquiring infrastructure assets and businesses in North America and Europe, targeting equity investments in the power, natural resource infrastructure, waste management, water, and transportation and communications sectors. The firm has a particular focus on infrastructure assets and businesses that provide growth and expansion opportunities.
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