Ares Management, through funds led by Ares Infrastructure Opportunities, has acquired a 32.4% stake in the Rover Pipeline from funds managed by Blackstone Energy Transition Partners, the companies announced on Wednesday.
Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter.
Blackstone’s investment comes as utilities are bracing for the largest increase in power use in a generation thanks to artificial intelligence and data centers. They expect a significant portion of that electricity will be generated with natural gas.