Sixth Street Partners, a global investment firm, has announced a majority investment in Caliche Development Partners, a company specializing in natural gas and industrial gas storage as well as carbon sequestration. The investment includes Caliche’s Golden Triangle Storage (GTS) facilities in Beaumont, Texas, and Central Valley Gas Storage in Princeton, California. The infusion of capital will enable Caliche to pursue new opportunities and expand its GTS complex, which recently received regulatory approvals for two new natural gas caverns. Caliche’s leadership will continue managing day-to-day operations, and all current employees will be retained. This investment aligns with key global energy trends and will be completed in stages, pending regulatory approvals, with the Texas business closing in late 2024 and the California business in mid-2025. Barclays advised Caliche, while Wells Fargo and Vinson & Elkins LLP advised Sixth Street.
Energy Storage, Investment & Finance, Carbon Sequestration,United States
https://sixthstreet.com/investment_announce/caliche-to-continue-expansion-backed-by-sixth-street/