Tallgrass Energy Partners, LP Closes Purchase of Midstream Assets from Kinder Morgan Energy Partners, L.P.

  Tallgrass Energy Partners, LP Closes Purchase of Midstream Assets from
  Kinder Morgan Energy Partners, L.P.

Business Wire

OVERLAND PARK, Kan. -- November 13, 2012

Tallgrass Energy Partners, LP (Tallgrass), today announced that it has closed
the previously announced transaction with Kinder Morgan Energy Partners, L.P.
(NYSE: KMP) to buy Kinder Morgan Interstate Gas Transmission (KMIGT),
Trailblazer Pipeline Company, the Casper-Douglas natural gas processing and
West Frenchie Draw treating facilities in Wyoming, and KMP’s 50 percent
interest in the Rockies Express Pipeline (REX). Tallgrass acquired these
assets for a total cash consideration of approximately $1.8billion. Including
the proportionate amount of REX debt, the purchase price is equivalent to a
value of $3.3 billion. Tallgrass is owned by the management team of Tallgrass,
Kelso & Company, and a limited group of investors led by The Energy & Minerals
Group including Magnetar Capital.

“Tallgrass Energy Partners is pleased to acquire these important midstream
assets,” said Tallgrass CEO David G. Dehaemers, Jr. “We look forward to
working with a talented group of employees that are continuing with us from
KMP. We also look forward to a great working relationship with our equity
partners, The Energy & Minerals Group and Kelso & Company. They have been very
supportive throughout this purchase process and added tremendous value.”

The Energy & Minerals Group is the management company for a series of highly
specialized private equity funds with total investor commitments of
approximately $5.0 billion. EMG focuses on investing across various facets of
the global natural resource industry including the upstream and midstream
segments of the energy complex. Since inception in 2006, EMG has invested in 9
midstream energy transactions comprising approximately $2.6 billion of equity
capital. For more information, please visit http://www.emgtx.com/.

Kelso & Company is one of the oldest and most established firms specializing
in private equity. Since 1980, Kelso has invested in over 115 companies in a
broad range of industry sectors with aggregate initial capitalization at
closing of over $40 billion. Representative energy investments include:
Buckeye GP Holdings L.P., CVR Energy, Inc., Crescent Point Energy Corporation,
Hunt Marcellus LLC, Tervita, and Venari Resources LLC. For more information,
please visit http://www.kelso.com.

Tallgrass Energy Partners, LP Website: http://tallgrassenergylp.com/


Kelso & Company
George Matelich, (212) 751-3939
The Energy & Minerals Group
Jeffrey A. Ball, (713) 579-5008
Tallgrass Energy Partners, LP
Doug Johnson, (913) 928-6020
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