Southcross Holdings LP reports the completion of a $210 million preferred equity commitment from Energy Capital Partners Mezzanine Opportunities Fund and GE Energy Financial Services. Southcross Holdings owns 100% of Southcross Energy Partners GP LLC, the general partner of Southcross Energy Partners LP (NYSE:SXE) (Southcross), limited partner interests in Southcross, and several Eagle Ford-based midstream assets.
The investment will enable Southcross Holdings to further integrate the assets from the recent TexStar combination and to build out further Holdings’ operating footprint in the Eagle Ford region. Development of these assets at Southcross Holdings will continue to enhance the significant inventory of potential drop-downs into Southcross, creating greater opportunities for distribution growth.
Barclays acted as financial advisor for Holdings. Sidley Austin LLP served as legal advisor to Energy Capital Partners and GE Energy Financial Services. Weil Gotshal & Manges LLP served as legal advisor to Southcross Holdings.