EIF sells MoGas Pipeline to CorEnergy for $125 mln

Energy Investors Fund has sold MoGas Pipeline to CorEnergy for $125 million. MoGas Pipeline owns and operates a 263-mile natural gas pipeline that serves in and around St. Louis and into central Missouri.


SAN FRANCISCO – NOVEMBER 25, 2014: Energy Investors Funds (“EIF”), an energy-focused private equity firm, announced today it has closed on the sale of MoGas Pipeline LLC (“MoGas Pipeline”), the owner and operator of a 263-mile natural gas pipeline, to CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) (“CorEnergy”) in a sale valued at $125 million.

MoGas Pipeline owns and operates a 263-mile natural gas pipeline that serves the area in and around St. Louis and into central Missouri. The pipeline has steady revenue backed by contracts with creditworthy customers. Energy Investors Funds, through its United States Power Fund II and USPF II Institutional Fund, initially acquired 83.5% of Gateway Pipeline Company, LLC (“Gateway”) on February 12, 2007. Gateway was a holding company of Missouri Gas Company, LLC, Missouri Pipeline Company, LLC and Missouri Interstate Gas, LLC. On June 1, 2008 Gateway became operational under FERC and was renamed MoGas Pipeline LLC.

“We’re pleased to have completed the sale of MoGas, which has been a solid investment for our firm and our investors,” said Jose Torres-Monllor, Partner at EIF. “Over the last 7 years, we successfully restructured the company into a FERC-regulated pipeline and increased the system capacity with the addition of compression. The pipeline was in a good position to be sold given the strong current demand for this type of asset. We’re pleased with the deal we made with CorEnergy.”

About Energy Investors Funds
EIF was founded in 1987 as one of the first private equity fund managers focused on the independent power industry. EIF’s investment strategy is to create diversified portfolios of energy infrastructure-related assets across the power generation, transmission, and midstream sectors that are expected to provide superior risk-adjusted equity returns with current cash flow and capital appreciation. EIF has raised over $5 billion in equity capital and currently manages multiple private equity funds from its offices in Boston, New York, and San Francisco. In October 2014, Ares Management, L.P. (NYSE: ARES) announced that it had signed a definitive agreement to acquire EIF through one of its subsidiaries. The acquisition, which is subject to customary closing conditions including investor consents and regulatory approvals, is expected to close before year-end. For more information, visit www.eif.com.

About CorEnergy Infrastructure Trust, Inc.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR), primarily owns midstream and downstream U.S. energy infrastructure assets subject to long-term triple net participating leases. These assets include pipelines, storage tanks, transmission lines and gathering systems. For more information, visit corenergy.corridortrust.com.