Ares Management Corporation has sold its 22.5% ownership interest in Meade Pipeline Co LLC for $286 million to a subsidiary of NextEra Energy Partners LP.
The transaction is expected to close this quarter, subject to closing conditions and regulatory approvals.
The investment in the project was part of Ares’ infrastructure and power strategy. Keith Derman, partner of Ares and co-head of Ares Infrastructure and Power, said that the Meade investment demonstrated the firm’s strategy to develop critical infrastructure assets, bring them online and ultimately create value for fund investors.
Ares . . .
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