Warburg Pincus invests up to $500 million in pipeline co. Navitas
(Reuters) - Warburg Pincus LLC, the New York-based private equity firm, is investing up to $500 million in oil and natural gas pipeline company Navitas Midstream Partners.
Woodlands, Texas-based Navitas will have access to the development capital to acquire and develop midstream assets across multiple oil and gas basins in North America.
Oil industry midstream companies specialize in moving natural resources from the wellhead to processing facilities or shipping terminals.
Navitas Chief Executive Officer R. Bruce Northcutt was president and CEO of Copano Energy LLC, which sold to Kinder Morgan Energy Partners LP for $5 billion in 2013.
Warburg Pincus was part of a group that built another midstream oil and gas company, Targa Resources Corp, and took it public in 2010.
(Reporting By Mike Stone; Editing by Jonathan Oatis)
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