Kirkland & Ellis LLP represented Alberta Investment Management Corporation (AIMCo) on its agreement to acquire, on behalf of certain of its clients, an ownership stake in Howard Energy Partners from EnLink Midstream Partners, LP (NYSE:ENLK). The investment, representing an ownership stake of approximately 28 percent of Howard Energy Partners, makes AIMCo the second largest unitholder in the company. The transaction is expected to close during the first quarter of 2017, subject to customary closing conditions, including regulatory approvals. The full release is available here.
The Kirkland team was led by corporate partner Adam Larson and associate Cyril Jones; and tax partners Chad McCormick and Mike Carew and associate Tim Campany.
Kirkland advised AIMCo in August 2016 on its binding commitments for the purchase of up to $500 million of Series B Preferred Units (Preferred Units) from Howard Midstream Energy Partners, on behalf of certain AIMCo clients.