NGL Energy Partners LP announced that it has received $240 million in funding from a group of investors.
On December 2, 2013, NGL Energy Partners LP closed the transaction. The transaction included participation from new investors, Clearbridge Energy MLP Total Return Fund Inc. and ClearBridge Energy MLP Opportunity Fund Inc., funds managed by Legg Mason Partners Fund Advisor, LLC, Oppenheimer SteelPath MLP Alpha Fund, Oppenheimer SteelPath MLP Alpha Plus Fund, and Oppenheimer SteelPath MLP Income Fund, SteelPath MLP Funds Trust - SteelPath MLP Select 40 Fund, managed by OFI SteelPath, Inc., Advisors Inner Circle Fund - Cornerstone Advisors Income Opportunities Fund, managed by Advisors' Inner Circle Fund, AT MLP Fund, LLC a fund managed by Atlantic Trust PWM, Oppenheimer SteelPath MLP Master Fund, Eagle Income Appreciation Partners, L.P. and Eagle Income Appreciation II, L.P , managed by Eagle Global Advisors, LLC, Ohio Police & Fire Pension Fund, Pennsylvania Public School Employees Retirement System, Salient MLP Fund, LP, Salient MLP & Energy Infrastructure Fund, Salient Midstream & MLP Fund, Salient MLP & Energy Infrastructure Fund II, funds managed by Salient Capital Advisors, LLC, Salient Mlp Total Return Fund, L.P., fund managed by Salient Capital Management, LLC, Harvest MLP Income Fund LLC, Harvest MLP Income Fund III LLC, Harvest Energy Fund LLC, funds managed by Harvest Fund Advisors, LLC, Cushing MLP Total Return Fund, The Cushing MLP Premier Fund, Cushing SCS MLP Fund, LP, managed by Cushing MLP Asset Management, LP, Teacher's Retirement System Of Oklahoma, City Of New Haven City Employees Retirement fund, Cohen & Steers Infrastructure Fund, Inc, Cohen & Steers MLP Income & Energy Opportunity Fund, funds managed by Cohen & Steers Capital Management, Inc., and The Northwestern Mutual Life Insurance Company. G. Michael O'Leary Andrews Kurth LLP acted as a legal advisor to the company. Grant Thornton LLP, Graham Shepherd, PC, BDO USA, LLP , and Roloff, Hnatek & Co., L.L.P. will act as accountants to the company. The company will not pay any fees or expenses related to the transaction except the placement agent fees.