Astatine Is Said to Seek Sale of Its Stake in Howard Energy (1)

Astatine Investment Partners is seeking the sale of its 38% stake in Texas pipeline operator Howard Energy Partners, people familiar with the matter said.

Closely held Howard Energy Partners had $300 million of earnings before interest, tax depreciation and amortization, said the people, who asked not to be identified because the deliberations are private. The deal is likely to give Howard an enterprise value of about $2 billion, said one of the people.

Funds managed by Astatine bought 59% of Howard’s capital interest in a December 2013 deal. Astatine was known as Alinda Capital Partners Alinda until an April ...