FIC Closes on Continuation Vehicle, Advancing its Existing Collaboration with Matterhorn Express Pipeline
HOUSTON & CHARLOTTE, N.C. — FIC, an investment firm with a focus on critical infrastructure assets across the energy and power use value chains, has closed on a GP-led secondary transaction for a portion of its existing equity interest in the Matterhorn Express Pipeline (Matterhorn). Matterhorn is a strategically positioned natural gas pipeline with a capacity of 2.5 billion cubic feet per day (Bcf/d), linking the Permian Basin to essential demand centers across Texas and the Gulf Coast—from power generation and industrial markets to LNG export terminals. Matterhorn was placed into service in November 2024 and is fully contracted.
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'FIC is excited about continuing its successful partnership with the WhiteWater team through the next phase of growth for Matterhorn,' said Cay Freihofer, Co-Managing Partner of FIC. 'Matterhorn is a world-class infrastructure platform, well positioned to serve essential and growing demand centers that we believe position the investment for continued success,' added Co-Managing Partner Cyrus Aghili.
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A diverse syndicate of high-quality institutional investors provided new capital for the continuation vehicle. The transaction allows FIC to support the platform's future growth while providing FIC's pre-existing limited partners the opportunity to monetize performance on a successful investment in Matterhorn. Following the transaction, funds managed by FIC own WhiteWater Matterhorn InvestCo, LLC ('MXP HoldCo') alongside I Squared and WhiteWater Midstream. WhiteWater Midstream, through MXP HoldCo, operates Matterhorn.
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Evercore acted as financial advisor and exclusive placement agent to FIC on the transaction, while Latham & Watkins and Milbank provided legal counsel.
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About FIC
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FIC Partners Management, LP ('FIC') is an investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. We partner with management teams and businesses to help accelerate the development of strategic assets that serve society's growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com.
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