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The Long Ridge Energy Terminal is located in Hannibal, OH. The Long Ridge Energy Terminal is located in Hannibal, OH.

HANNIBAL, OH—Chicago-based global alternative asset management firm GCM Grosvenor reports it plans to acquire a 49.9% interest in Long Ridge Energy Terminal here from Fortress Transportation and Infrastructure Investors of New York City for $150 million in cash plus an unspecified earn-out.

GCM will acquire the equity stake through its Labor Impact Fund, a closed-end private investment vehicle which seeks to originate and execute infrastructure projects that leverage the inclusion of union labor as a contributing factor to enabling attractive risk adjusted returns.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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