Privately held Navitas Midstream Partners, recently formed in The Woodlands, Tex., “to develop, acquire, and operate midstream assets across multiple basins in North America,” has received a line-of-equity investment of as much as $500 million from an affiliate of Warburg Pincus, New York.
The three founding partners and top executives of Navitas Midstream are former executives of Copano Energy LLC., which Kinder Morgan Energy Partners LP acquired last year for about $5 billion (OGJ Online, Jan. 30, 2013).
The Navitas Midstream executives are R. Bruce Northcutt, chief executive officer, who was president and chief executive officer of Copano Energy; James E. Wade, chief commercial officer, who was chief operating officer of Copano Energy’s Texas business unit; and Bryan W. Neskora, chief operating officer, who was Copano Energy’s chief operating officer.
Members of the management team and other individuals joined Warburg Pincus in the investment.
