Blackstone Credit & Insurance has provided debt financing commitments for Delta Utilities, a portfolio company of Bernhard Capital Partners, to acquire CenterPoint Energy’s regulated natural gas distribution operations in Louisiana and Mississippi.
Based in Baton Rouge, La., Bernhard Capital focuses on investing in companies that provide critical services to government, infrastructure, industrial, utility and energy sectors, as well as investing in utility assets. To date, the firm has invested in more than 65 services-focused companies, including several utility companies, across 19 platforms.
In February, Bernhard Capital announced Delta Utilities was planning to acquire CenterPoint’s natural gas operations in Louisiana and Mississippi. CenterPoint’s natural gas distribution systems currently serve approximately 381,000 re