EIG Global Energy Partners Files Federal Complaint Seeking to Enjoin Proposed TCW-Carlyle Transaction

EIG Global Energy Partners Files Federal Complaint Seeking to Enjoin Proposed TCW-Carlyle Transaction

PR Newswire

WASHINGTON, Aug. 21, 2012 /PRNewswire/ — D.C. – EIG Global Energy Partners (EIG) today announced that it has filed a complaint in Federal Court seeking to enjoin the announced acquisition of the TCW Group by investment funds managed by the Carlyle Group, together with TCW’s management, from Societe Generale of France. EIG’s complaint, filed in the Central District of California, alleges that the proposed transaction runs-afoul of certain consent rights granted to EIG as part of its consensual spin-out from TCW in 2009. The complaint seeks to enjoin the transaction until EIG’s claims challenging it on various grounds are resolved in arbitration.

R. Blair Thomas, Chief Executive Officer of EIG said, “It’s unfortunate that this suit has become necessary but, as our suit alleges, the announced transaction violates certain contractual rights granted to EIG as part of our separation from TCW. We made these concerns known to all parties involved as soon as we learned of the proposed transaction, but negotiations were unsuccessful, and TCW, Carlyle and Societe Generale elected to proceed with the announced transaction with full knowledge of our concerns. They have left us no alternative but to seek injunctive and other relief.”

EIG is a leading institutional investor to the global energy sector with $10.6 billion under management as of June 30, 2012. EIG specializes in private investments in energy, resources and related infrastructure and was formerly the Energy & Infrastructure Group of Trust Company of the West. During its 30-year history, EIG has invested over $14 billion in the sector through more than 280 projects or companies in 33 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, DC, with offices in Houston, London, Sydney and Hong Kong.

EIG is represented in this litigation by the law firm of Munger, Tolles & Olson LLP.

SOURCE EIG Global Energy Partners

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