Navitas Midstream Partners Announces Investment of Up to $500 Million Led by Warburg Pincus

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Jun 05, 2014, 10:00 ET

THE WOODLANDS, Texas and NEW YORK, June 5, 2014 /PRNewswire/ -- Navitas Midstream Partners ("Navitas" or "the Company"), a producer-focused midstream company, today announced that an affiliate of Warburg Pincus ("the Firm"), a global private equity firm focused on growth investing, has agreed to lead a line-of-equity investment of up to $500 million in the Company. Warburg Pincus is joined by members of the management team and other individuals in this investment. Navitas seeks to develop, acquire, and operate midstream assets across multiple basins in North America.

Navitas is led by R. Bruce Northcutt who served as the President and CEO of Copano Energy, LLC until its sale to Kinder Morgan Energy Partners, L.P. for approximately $5 billion in May 2013. Mr. Northcutt is joined by partners Bryan W. Neskora and James E. Wade, who were senior members of management at Copano. Mr. Neskora served as Copano's Chief Operating Officer and previously as senior vice president at El Paso Corp. Mr. Wade served as Copano's President and Chief Operating Officer of the Texas Business Unit and previously as senior vice president of Southern Union Energy Services. The senior management team, which collectively has more than 80 years of industry experience, has a track record of successful project execution in numerous basins across the midstream value chain including gathering, treating, processing, fractionation and transportation of natural gas, NGLs, condensate and crude oil.

Messrs. Northcutt, Neskora and Wade served as Executives-In-Residence at Warburg Pincus, where they worked in close collaboration in the early stages of the Company's development.

Mr. Northcutt commented, "We are delighted to have the support of Warburg Pincus to assist us in developing and growing the business. The Firm's deep industry experience and patient capital provides us with a competitive advantage in today's midstream marketplace."

In Seon Hwang, Managing Director at Warburg Pincus said, "We are pleased to partner with Navitas' best-in-class management team and to leverage their industry leadership and successful track record to build a business of scale. With our producer-focused, long-term orientation to develop and operate assets, we believe Navitas is well-positioned to become a leading player in the North American midstream landscape."

About Navitas Midstream Partners
Based in The Woodlands, Texas, Navitas Midstream Partners is a producer-focused midstream company. The senior management team has more than 80 years of combined experience and execution of more than $10 billion of capital projects and $2 billion of acquisitions. Led by R. Bruce Northcutt, along with seasoned executives Bryan W. Neskora and James E. Wade, Navitas was formed with Warburg Pincus. For more information, visit http://www.navitas-midstream.com/.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $37 billion in assets under management. The firm's active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds, which have invested more than $48 billion in over 700 companies in more than 35 countries.

For more than two decades, Warburg Pincus has invested or committed over $9.5 billion across more than 50 energy investments around the world involved in oil and gas exploration and production, midstream, downstream, power generation, oilfield technology and related-services, mining and alternative energy development. Notable investments include Antero Resources, Bill Barrett Corporation, Broad Oak Energy, Encore Acquisition Company, Kosmos Energy, Laredo Petroleum, MEG Energy, Newfield Exploration, Spinnaker Exploration and Targa Resources.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo and Shanghai. For more information please visit www.warburgpincus.com.