Kirkland Counsels Blackstone Tactical Opportunities on Investment in Targa

Kirkland & Ellis LLP represented Blackstone Tactical Opportunities on its decision to invest in Targa Resources Corp. (TRGP), a Houston-based midstream energy corporation, which received definitive agreements for the purchase of approximately $1 billion of 9.5 percent Series A Preferred Stock. This includes the Preferred Stock from Stonepeak Infrastructure Partners that was previously announced by the company on Feb. 18, 2016, and additional Preferred Stock as a result of investor interest after the initial announcement from funds managed by Blackstone Tactical Opportunities, Energy Capital Partners Mezzanine Opportunities Fund, investment companies affiliated with Tortoise Capital Advisors LLC and other institutional investors. The full release is here.

The Kirkland team was led by corporate partner Rhett Van Syoc and tax partners Dean Shulman and Russell Light.