Ares Management, a leading global alternative investment manager, has acquired a 32.4% stake in the Rover Pipeline from funds managed by Blackstone Energy Transition Partners to expand its portfolio of critical energy infrastructure assets.
Rover is a large-scale natural gas transmission pipeline spanning approximately 700 miles across Pennsylvania, West Virginia, Ohio, and Michigan, with transportation capacity of 3.425 billion cubic feet per day, substantially contracted under long-term agreements. The asset provides critical connectivity from the Appalachian Basin, the largest natural gas-producing region in the United States, to high-value end markets across North America. Blackstone originally acquired its interest in Rover in 2017, supporting the pipeline’s development and completion in 2018. The asset is operated by an affiliate of Energy Transfer LP. Kirkland & Ellis acted as legal counsel to Ares, while RBC Capital Markets and Greenhill & Co. served as financial advisors and Vinson & Elkins acted as legal counsel to Blackstone.
KEY QUOTES:
Large-scale, strategically located assets like Rover, which offer much-needed egress for in-basin supply, are playing a central role in the natural gas value chain and represent a compelling opportunity for expansion. Sitting at the intersection of three of the most powerful trends reshaping North American energy markets — the unprecedented growth in U.S. power demand, rising global need for American LNG and the reshoring of domestic manufacturing — we believe that Rover is well positioned to deliver value over the long term.
Anthony Omokha, Managing Director, Ares Infrastructure Opportunities
We are proud to have supported the development and construction of Rover, which delivers affordable, reliable, American natural gas to key Midwestern markets. As the need for U.S. natural gas continues to grow — driven by electrification, AI-related power generation and LNG exports — assets like Rover play an increasingly important role in connecting domestic supply to demand markets.
David Foley, Global Head, Blackstone Energy Transition Partners
