Targa Resources Partners, LP (NASDAQ: NGLS) has been added to the Alerian MLP Select Index as of September 20th. Targa provides midstream gas and natural gas liquids (NGL) services including gas compression, treatment, processing as well as NGL fractionation.
Targa Resources, Inc. (37% owner of Targa Resources Partners, LP) was founded in 2004 with the help of Warburg Pincus. Warburg Pincus retains 74% ownership of Targa Resources, Inc., with the balance of ownership held by Merrill Lynch and the Targa management team.
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