SIXTH STREET COMPLETES ACQUISITION OF CALICHE DEVELOPMENT PARTNERS WITH CLOSING OF SECOND UNDERGROUND STORAGE ASSET

HOUSTON and NEW YORK, March 18, 2025 /PRNewswire/ -- Sixth Street, a leading global investment firm, today announced that its portfolio company, Caliche Development Partners ("Caliche") has completed the acquisition of Central Valley Gas Storage ("CVGS") in Princeton, CA.  In October 2024, Sixth Street closed on the acquisition of Caliche and its Golden Triangle Storage (GTS) complex in Beaumont, TX, which is under active expansion. Both CVGS and GTS will continue to be operated by Caliche.

"Caliche is excited to continue its role as a safe, high-quality operator of the CVGS facility in Northern California.  Since entering the market, we've hired 10 employees and met deliverability needs for the region's heating, power and industrial loads at the most critical of times," said Dave Marchese, Chief Executive Officer of Caliche. "We'll continue to provide safety, asset integrity, low-cost operations, and customer satisfaction for consumers of natural gas. Thanks to Sixth Street's investment, we'll also explore ways to expand our business and relationships in the state."   

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 assets 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 global investment firm with over $100 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 more than 650 team members including over 280 investment professionals around the world. For more information, visit www.sixthstreet.com or follow Sixth Street on LinkedIn.

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SOURCE Caliche Development Partners III