Seeking Alpha
  • Thomas Wilson
    Liking ACMP (up 7.9% since buy), but questioning GP (GIP). What is their intention for future? CHK sells 6.9 bil in assets to ACMP today.
    9/12/12
    Reply (10)
    • Ocean Man: No, CHK sold 6.9B in assets including their interest in ACMP today.
      9/12/12
    • Thomas Wilson: Ocean Man, my mistake. Just did a quick scan through the article when I wrote this.
      9/13/12
    • Energysystems: GIP has been involved since CHKM ipo'd, they are the management group(essentially), who is there to examine potential acquisitions.
      9/13/12
    • Energysystems: ps-GIP was involved before IPO just to be clear, they've been involved since day 1. I like that they have taken control.
      9/13/12
    • Thomas Wilson: Interesting. Was not aware that they were involved since the beginning.
      9/13/12
    • Thomas Wilson: I worry when the GP is also a PE firm, however. Can produce conflicts of interest between LP's of ACMP and LP's of GIP when they close fund
      9/13/12
    • Energysystems: They were in place from beginning to advise on all acquisitions, to make sure drop downs from CHK weren't overpayed for.
      9/13/12
    • Energysystems: With GIP holding such a large % of ACMP, I don't see them not doing what is best for both them and the LP.
      9/13/12
    • Thomas Wilson: The question should be: Which set of LP's? GIP has two: The LP's of ACMP-portfolio company- and LP's of the fund they run.
      9/13/12
    • Thomas Wilson: Two completely diff investors. Ultimately, GIP has to honor the LPA they signed when they made their fund to invest in ACMP.
      9/13/12