Momentum Midstream Backer Said to Consider $5 Billion-Plus Exit

EnCap Flatrock Midstream is considering a sale of gas pipeline company Momentum Midstream for over $5 billion, according to people familiar with the matter.

The private equity firm is working with financial advisers to seek a buyer for Momentum, which could attract interest from competitors, as well as private equity firms, the people said.

Deliberations are in the early stages and EnCap Flatrock Midstream could still decide to hold onto the asset, the people added, asking not to be identified because the information is private.

Representatives for EnCap Flatrock Midstream, which is backed by Flatrock Energy Advisors and EnCap Investments ...