Aug 4 Private equity firm Warburg Pincus LLC
said on Monday it had agreed to invest up to $600 million in
equity in Zenith Energy, a developer and operator of terminals
that store and distribute petroleum, natural gas liquids and
The deal is a bet on growing crude production as well as on
Zenith Chief Executive Jeffrey Armstrong, who as a Kinder Morgan
Inc executive increased that company's terminals to 122
in 2012 from 12 in 2001.
Zenith is looking to buy, build and operate terminals
primarily in Latin America, Europe and Africa, and is also
interested in related assets such as pipelines, truck racks and
barges. The Houston-based company is currently developing a
liquids terminal in Palermo, Colombia.
Warburg Pincus, a New York-based firm with more than $39
billion in assets under management, said it would be joined in
the deal by minority investors that include members of Zenith's
management team and other unnamed individuals.
(Reporting by Greg Roumeliotis in New York; Editing by Paul