Latham & Watkins Advises ArcLight Capital Partners in Acquisition of 25% Interest in NGPL

NGPL has announced that Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) has agreed to sell entities that hold its entire 25% minority interest in NGPL Holdings LLC (NGPL Holdings) to one or more funds controlled by ArcLight Capital Partners, LLC (ArcLight). Upon closing, ArcLight funds will hold a 62.5% interest in NGPL Holdings. Kinder Morgan, Inc. (NYSE: KMI) continues to operate NGPL Holdings assets and holds a 37.5% interest in NGPL Holdings. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.

Latham & Watkins LLP represents ArcLight in the transaction with a deal team led by Justin T. Stolte, Annelise Karreman, Warren Lilien, and Thomas Verity, with support from John Daywalt, Emma Green, Haley Sandoval, Stacey Hall, and Caroline Silverstein.