Hartree Bulk Storage, LLC, a new liquids storage, terminaling and logistics platform company, has been formed by Hartree Partners and funds managed by Oaktree Capital Management, with an initial equity commitment of up to $735m.
Headquartered in New York, Hartree Bulk Storage intends to capitalise on the strong global demand for bulk liquids storage infrastructure via mergers and acquisitions, greenfield projects and joint venture partnerships. The newly formed platform will provide independent solutions to refiners, petrochemical manufacturers, marketers and producers of crude oil, refined products, NGLs and other bulk liquids.
“Hartree’s deep understanding of the energy supply chain and local market dynamics, coupled with its ability to identify future market trends, will guide the ability of Hartree Bulk Storage to provide superior connectivity and optionality to its customers,” said Guy Merison, Hartree’s co-founder. “Over the past two decades, Hartree has consistently utilised storage solutions for its trading business, and we believe that in partnership with Oaktree funds, Hartree Bulk Storage can develop a network of storage facilities with strategic importance to its customers.”
Rajath Shourie, Managing Director at Oaktree, said: “We are excited to build an integrated bulk storage and logistics solutions provider that leverages the unique market perspective of a commodity merchant.”
For more information visit www.hartreepartners.com