AB Private Credit Investors™ and its affiliates ("AB-PCI") announced a $120 million credit facility co-lead and co-arranged with Goldman Sachs Specialty Lending Group ("GSSLG") to Caprock Midstream, LLC ("Caprock"). The facility will be used to fund the continued growth of Caprock's Delaware Basin buildout.
"This financing provides Caprock with the additional capital required to continue the development of our assets in the Delaware Basin in advance of our customers' needs" said Mike Forbau, CEO of Caprock Midstream.
Patrick Gimlett, a Director who leads AB-PCI's origination efforts in energy added, "Midstream infrastructure is a key area of specialization for us and we are excited to have brought our industry knowledge, structuring expertise and flexibility to bear in this transaction."
The transaction highlights AB-PCI's ongoing effort to provide capital to energy sector participants that possess high quality assets that are supported by attractive long-term fundamentals.
About Company: Caprock provides natural gas gathering, processing, oil gathering, water gathering and water disposal in the Delaware basin. Caprock was founded in 2015 through a partnership with Energy Spectrum Partners VII, LP.
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This announcement is not a recommendation of, or offer to buy or sell any security or financial instrument.