June 5 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
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
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)