Kirkland Counsels EIG on USA Compression Partners Investment

Kirkland & Ellis LLP advised affiliates of EIG Global Energy Partners on a $500 million investment into USA Compression Partners, LP (NYSE: USAC), in which certain investment funds managed or sub-advised by EIG and other investment vehicles unaffiliated with EIG agreed to purchase an aggregate amount of $500 million of newly established Series A Perpetual Preferred Units, entitling their holders to receive cumulative quarterly distributions at a rate of 9.75 percent per annum, and also received warrants to purchase Common Units of USA Compression, in the amounts of 5,000,000 and 10,000,000 Common Units with strike prices of $17.03 and $19.59, respectively. USA Compression will use the proceeds in connection with an acquisition of a compression business from Energy Transfer Partners LP. Find the full release here.

The Kirkland team included corporate partners John Pitts and Samuel Peca; capital markets partners Julian Seiguer and Justin Hoffman; and debt finance partner Mary Kogut.