Lehman Brothers alumni and energy investment specialist William Brilliant has been elected as the newest partner at Global Infrastructure Partners (GIP), according to a company announcement.
Based in New York, Brilliant has been primarily involved in the midstream energy space during his tenure at GIP. He currently serves on the board of directors of Hess Infrastructure Partners and previously served as director of Access Midstream Partners. He worked as an investment banker in the global financial sponsors group at Lehman Brothers from 2005 to 2007.
“We are very pleased to welcome Will as GIP's newest partner,” said chairman and managing partner Adebayo Ogunlesi. “Since he joined GIP in 2007, Will has made outstanding contributions to the origination, execution, management and realisation of several of our portfolio investments. We look forward to his continued success.”
Specific GIP investments into the midstream space include the Ruby Pipeline, Access Midstream Partners and Hess Infrastructure Partners.
GIP acquired its interest in the Ruby Pipeline in 2009, which was constructed between July 2010 and July 2011, and managed it jointly through a joint venture with Kinder Morgan until selling its interest in 2014.
Access Midstream Partners also first received GIP investment in 2009 when it was still a Wall Street favorite blue chip known as Chesapeake Midstream. After being criticised for underperformance, a shareholder revolt forced the sale of Chesapeake. GIP purchased the entire asset in June 2012 and it was rebranded the following month, when Brilliant was listed among three new appointees to the board of directors.
The fund acquired a 50 percent interest in Hess Infrastructure Partners in June 2015 through a joint venture formed between Global Infrastructure Partners II and Hess Corporation, by way of a $2.675 billion investment that will reportedly be financed through a combination of equity and debt. Hess Infrastructure is the owner of the corporation's midstream crude oil and natural gas assets located primarily in the Bakken Shale, according to a related release.
Some of GIP's other recent activities include: committing to buy out Danish developer DONG Energy's 50 percent stake in the 330-megawatt (MW) Gode Energy 1 offshore wind construction project; looking for a buyer for its 2006-vintage 75 percent interest in the London City Airport; and seeking a buyer for the Greater Yarmouth Project, an asset it acquired as part of the International Port Holdings (IPH) purchase in May 2007.
Founded in 2006, GIP's strategy involves a focus on both single asset and portfolio investments into power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment, and waste management. The fund maintains offices in New York and London, with an affiliate in Sydney and company operations headquartered in Stamford, Connecticut.