GE Energy Financial Services has paid $85 million for a 58 percent stake in Lightfoot Capital Partners, a New York City–based direct investor in energy businesses, assets and securities. Lightfoot Capital is the majority owner of Arc Terminals, an operator of petroleum product infrastructure in eight U.S. states. Arc primarily uses long-term contracts with third-party customers and does not own or market product stored in its terminals.
“We are deploying our capital, expertise and potentially some additional assets to support Lightfoot Capital’s transition into a successful master limited partnership,” says Dan Castagnola, a managing director with GE Energy Financial Services in Houston.
Lightfoot Capital will use the new capital to source acquisiti