CorEnergy Infrastructure Trust, a firm focusing on US energy infrastructure, has named Jeff Teeven to the newly-created position of vice president of finance, the Kansas-based firm said in a statement.
In his new role, Teeven will lead the corporate finance team and manage the firm’s communications with key external relationships including institutional investors, lenders and co-investors. He will report directly to CorEnergy chief executive David Schulte, a spokesperson for the firm told Infrastructure Investor. He also serves as director of finance for Corridor InfraTrust Management, CorEnergy's manager.
Teeven has more than 20 years’ experience in private equity management and mergers and acquisitions having spent 10 years with Kansas City Equity Partners, a $125 million private equity fund focusing on investments in the energy, services and specialty retail sectors, before co-founding another private investment firm, Consumer Growth Partners.
Before entering the private equity space, Teeven served as a senior consultant with KPMG’s Boston corporate transactions services group for five years, gaining experience in the M&A sector.
CorEnergy primarily owns midstream and downstream US energy infrastructure assets including pipelines, storage tanks, transmission lines and gathering systems. Its assets include Pinedale LGS, a liquids gathering system in Wyoming; the Portland petroleum products terminal facility in Oregon; the Eastern Interconnect Project, an electric transmission asset in New Mexico; and an investment in Black Bison Water Services, a service provider for the disposal of flowback and produced water generated from oil- and gas-producing wells in Wyoming, among others.
The firm’s history dates back to February 2007 when it launched an initial public offering under the name Tortoise Capital Resources (TTO), a closed-end management investment company regulated as a business development company. With most of its securities in energy-related companies and due to its close ties to the energy sector, TTO began to see opportunities in the direct ownership of infrastructure assets.
In December 2012, Tortoise Capital Resources changed its name to CorEnergy Infrastructure Trust. The move was part of the company's transition from a business development company managed by Tortoise Capital Advisors to a real estate investment trust managed by Corridor InfraTrust Management, a real property asset manager focusing on US energy infrastructure.
Corridor is an affiliate of Tortoise Capital Advisors, an investment manager specialising in listed energy investments, which was co-founded by Schulte. As of May 31, 2015, Tortoise Capital had approximately $18 billion in assets under management.