Sixth Street, a global investment firm, announced that its portfolio company, Caliche Development Partners has completed the acquisition of Central Valley Gas Storage (CVGS) in Princeton, California.
In October 2024, Sixth Street closed on the acquisition of Caliche and its Golden Triangle Storage (GTS) complex in Beaumont, Texas, which is under active expansion. Both CVGS and GTS will continue to be operated by Caliche.
"Caliche is excited to continue its role as a safe, high-quality operator of the CVGS facility in Northern California. Since entering the market, we've hired 10 employees and met deliverability needs for the region's heating, power and industrial loads at the most critical of times," said Dave Marchese, Chief Executive Officer of Caliche. "We'll continue to provide safety, asset integrity, low-cost operations, and customer satisfaction for consumers of natural gas. Thanks to Sixth Street's investment, we'll also explore ways to expand our business and relationships in the state."
