An investment firm backed by Chicago billionaire Sam Zell has bought into Los Angeles-based Colony Capital Inc.’s (NYSE: CLNY) energy arm.
The deal creates a Houston-based joint venture — called Alpine Energy Capital — between Colony and Zell’s Chicago-based Equity Group Investments to invest in the upstream oil and gas business, particularly at the asset level, Alpine said in a press release. Prior to the deal, Alpine was called Colony HB2 and handled Colony’s energy investments.
Alpine…
The system, known as NeuFuel, differs from compressed natural gas because it can be used at a lower pressure than CNG.
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