Magnetar Capital invests in water infrastructure

Evanston-based Magnetar Capital purchased $150 million in preferred equity in WaterBridge Holdings, a Houston, Texas-based company that operates and owns integrated water infrastructure networks. The investment was arranged by the $12.9 billion hedge fund firm’s energy and infrastructure team, according to a spokeswoman who declined to discuss which fund that housed the new investment. The team is led by Eric Scheyer in Evanston and Adam Daley in Houston. The unit invests across energy and infrastructure sectors via debt, convertible/preferred equity, common equity and royalty interests. "We are excited to welcome Magnetar Capital, a renowned institutional investor with extensive midstream experience, to the team," said Steven Jones, co-president and chief financial officer of WaterBridge. "The addition of a top-tier capital provider who shares our vision on the future growth of WaterBridge will allow us to continue adding high-quality producers such as Primexx, Jetta and Tall City as customers on our integrated produced water handling network." In addition, WaterBridge has the ability to issue, and Magnetar Capital has the right to acquire, an additional $100 million of preferred equity to fund future growth. Overall WaterBridge attracted $345 million in equity capital, which included $195 million of common equity to fund affiliated with Five Point Energy, an affiliate of Singapore sovereign wealth fund GIC, and WaterBridge management. WaterBridge was founded in January 2016 and is a portfolio company of Five Point Energy.

Magnetar Capital invests in water infrastructure

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