ArcLight Capital Partners, LLC (ArcLight) has announced the completion and final close of ArcLight 3C SPV, L.P. a continuation fund with US$407 million in capital commitments.
In July, the fund held its initial close, with additional closes through December 2022. The fund also acquired the remaining 25.1% stake in Third Coast Super Holdings, LLC (Third Coast) ) from ArcLight Energy Partners Fund V, LP (Fund V). Third Coast is an offshore-focused midstream company headquartered in Houston, Texas. The company's operations are primarily located along the Gulf Coast and deep water-producing regions in the Gulf of Mexico. Third Coast provides efficient, safe, and reliable midstream services to the company's customers. The company's assets include natural gas transmission and gathering pipelines, crude oil pipelines, natural gas processing plants, and natural gas liquids pipelines. Third Coast's infrastructure services some of the largest producing Gulf of Mexico Deepwater fields.
ArcLight continues to invest in Third Coast through the fund as Third Coast's fee-based throughput business model is poised to benefit from continued Gulf of Mexico production growth catalyzed by its lower relative costs and environmental impact.
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