Global investment firm Carlyle has announced an agreement to acquire the Floating Production, Storage and Offloading (FPSO) business of Altera Infrastructure Group. The deal includes multiple FPSOs and one Floating Storage and Offloading (FSO) unit, all supported by long-term contracts with major oil and gas companies.
Among the assets in the portfolio are the Petrojarl Kong FPSO and FSO Yamoussoukro, which operate in Ivory Coast with Eni. These units are part of Africa’s first net zero emission upstream project for Scope 1 and 2 emissions. Other included assets are the Piranema FPSO and a 50% stake in the Altera&Ocyan joint-venture asset Pioneiro de Libra FPSO, deployed in Brazil with Petrobras. The business also holds prospects for future growth and redeployment.
Carlyle plans to support Altera’s FPSO operations through its sector-specific investment team and provide follow-on equity capital for expansion and mergers or acquisitions. Equity for this transaction will be sourced from Carlyle International Energy Partners II (CIEP II), a fund focused on global energy investments. Carlyle previously invested in Neptune Energy, Assala Energy, and SierraCol.
Bob Maguire, Co-Head of CIEP, said: “This is a rare opportunity to acquire an established and high-quality FPSO business with a strong management team, operating track record and long-term cashflows. This portfolio benefits from long-term contracts, strong FPSO market fundamentals, and exposure to world-class operators which position it well for success.”
Bendik Dahle, Managing Director on the CIEP investment team, stated: “We are delighted to partner with Altera FPSO to further build out the business’ scale and operations. We look forward to working closely with their strong management team to support the business in becoming a leading FPSO player globally through unlocking organic growth opportunities, M&A, partnering with operators on the delivery of their flagship upstream projects and supporting their decarbonization plans.”
Chris Brett, President at Altera Production, along with Arne Hygen Tørnkvist, Executive Vice President – Projects at Altera Infrastructure Group added: “Partnering with Carlyle marks an important step forward in our journey. Carlyle’s deep sector expertise and global network in the energy space, combined with its scale and resources, will allow us to further optimize the long-term performance of our assets, identify efficiencies across the portfolio and execute on growth initiatives to scale the business. We are excited to partner with Carlyle and look forward to delivering for our clients in a rapidly evolving energy landscape.”
Carlyle manages $465 billion in assets as of June 30, 2025. The firm employs more than 2,300 people across 27 offices worldwide.
Altera Infrastructure operates offshore infrastructure primarily in regions such as the North Sea, Brazil, and West Africa. Its consolidated assets total about $3 billion.
