Ares Management Acquires Meade Pipeline in $1.1 Billion Deal
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Ares Management Corporation has acquired 100 percent of the equity interests in Meade Pipeline Co. from affiliates of XPLR Infrastructure. XPLR is a leading independent power producer formed by NextEra Energy. The investment represents a total cash consideration of approximately $1.1 billion.
“Driven by electrification, industrial activity, and increasing LNG exports, we are witnessing tremendous growth in power and natural gas demand,” said Steve Porto, partner in the Ares Infrastructure Opportunities strategy.
“This investment reflects our conviction in Meade’s value proposition as well as our broader focus on identifying quality, strategically-located assets that can efficiently deliver lower-cost energy to demand centers,” added Porto.
Meade owns approximately 40 percent of the Central Penn Line (CPL), a FERC-regulated, 180-mile pipeline that transports natural gas from prolific production zones in the Marcellus and Utica Shale in Northeast Pennsylvania to demand centers in the Northeast, Mid-Atlantic, and Southeast via interconnection with Williams Companies’ Transcontinental Gas Pipe Line (Transco). Transco is a joint owner of CPL and serves as operator of the pipeline via two separate long-term triple-net-lease agreements. The pipeline began transporting gas in 2018 and, coupled with its Leidy South expansion that was completed in 2022, represents approximately 2.3 bcf/day of gross capacity.
Leveraging the experience and established track record of its approximately 30 tenured investment professionals, Ares Infrastructure Opportunities believes the acquisition of Meade will advance its strategy of investing in critical infrastructure that supports access to cost-competitive, reliable energy. The transaction further diversifies Ares Infrastructure Opportunities’ portfolio of energy assets, which the team believes are well-positioned to help meet the sharply rising demand for power in key U.S. markets, including across the East Coast.
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity, and infrastructure asset classes. The company seeks to advance its stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for investors and within its communities. By collaborating across their investment groups, they aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2025, Ares Management Corporation’s global platform had more than $572 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific, and the Middle East.
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