07:10 AM EDT, 09/29/2025 (MT Newswires) -- Ares Management ( ARES ) said Monday that funds managed by its Infrastructure Opportunities strategy acquired 100% of equity interests in Meade Pipeline for about $1.1 billion in cash.

The company said it acquired the stake from affiliates of NextEra Energy's ( NEE ) subsidiary XPLR Infrastructure.

Meade Pipeline owns about 40% of the 180-mile Central Penn Line pipeline that transports natural gas from production zones in the Marcellus and Utica Shale in Pennsylvania to demand centers via interconnection with Williams Companies' ( WMB ) Transcontinental Gas Pipe Line, or Transco, the company said.

Transco is a joint owner of the Central Penn Line pipeline and operates it under two separate long-term triple-net-lease agreements, Ares Management ( ARES ) said.

The Central Penn Line pipeline began transporting gas in 2018 and was expanded in 2022, providing about 2.3 billion cubic feet per day of gross capacity, the company said.