Houston, TX and New York, NY – August 20, 2024 - (PRNewswire) – Caliche Development Partners (“Caliche”), a
company focused on the acquisition, development, and operation of natural gas and industrial gas storage
assets as well as carbon sequestration, today announced that it is now backed by Sixth Street, a leading
global investment firm. Sixth Street’s majority investment includes the company’s Golden Triangle Storage
(“GTS”) facilities and carbon sequestration development project in Beaumont, TX, and its Central Valley Gas
Storage facilities in Princeton, CA.
Sixth Street’s investment provides Caliche with additional resources to pursue new opportunities and to
expand the GTS complex—including two natural gas caverns for which the company recently received a
blanket certificate pursuant to section 7(c) of the Natural Gas Act.
Following the close of the transaction, Caliche’s leadership will continue to oversee day-to-day operations
and will remain investors in the company. All employees in Caliche’s TX and CA offices and on-site at its
facilities will also be retained.
“We continue to meet the growing demand for the storage of natural gas and industrial gasses, including
helium and hydrogen, and provide the infrastructure for lower environmental impact forms of energy through
our commitment to safety, deliverability, asset integrity,” said Dave Marchese, CEO of Caliche. “We want to
thank our long-standing partners Orion Infrastructure Capital and GCM Grosvenor for supporting our
significant growth over the course of their investments, and we’re excited to keep executing our strategy as a
growing platform powered by Sixth Street.”
Sixth Street’s Infrastructure team utilizes the firm’s long-term, flexible capital to deliver scaled solutions for
companies across the power, midstream, renewables, transportation, and digital sectors. “Caliche supports
key trends driving the future of global energy, including the export of domestically produced LNG to
international markets and ensuring stable electricity delivery to consumers as renewable generation
resources come onto the grid,” said Richard Sberlati, Partner at Sixth Street. “The company’s success comes
from a combined 65 years of collective storage experience, and we look forward to partnering with the
company’s management as they further grow the business.”
Sixth Street’s investment will be completed in stages: the Texas business is expected to close in late 2024
and California in mid-2025, subject to all necessary state regulatory approvals.
Barclays served as exclusive financial advisor and Willkie Farr & Gallagher LLP served as legal counsel to
Caliche. Wells Fargo served as exclusive financial advisor and Vinson & Elkins LLP served as legal counsel to
Sixth Street.
Finance Contact: David Saindon – dsaindon@calichestorage.com
Media Contact: Emily C. Walsh – emilycampagnawalsh@gmail.com
About Caliche
Caliche is an acquisition and development company focused on the underground storage of natural gas, industrial gases like hydrogen and helium, and carbon sequestration. Based in Houston, TX, Caliche's projects are located in Jefferson County on the US Gulf Coast (Golden Triangle Storage, GTS and Caliche CO2 Sequestration) and in Colusa County, CA (Central Valley Gas Storage, CVGS). The Caliche management team previously developed and sold its underground storage business (Coastal Caverns) on the historic
Spindletop salt dome in Beaumont. https://calichestorage.com
About Sixth Street
Sixth Street is a leading global investment firm with over $75 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has 600 team members including over 200 investment professionals operating around the world. For more information, follow Sixth Street on social media and visit www.sixthstreet.com.