Hartree Partners LP (Hartree) and funds managed by Oaktree Capital Management L.P. (Oaktree) today announced that they have formed a liquids storage, terminalling and logistics platform company, Hartree Bulk Storage LLC, with an initial equity commitment of up to US$735 million.
Headquartered in New York, US, 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.