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Investment Firm Carlyle Buys Altera Infrastructure Group’s FPSO Business

FPSO
Altera is sellings its FPSO business to investor Carlyle Group (Altera Infrastructure)

Published Sep 2, 2025 6:40 PM by The Maritime Executive


Global investment firm Carlyle is jumping into the offshore energy sector reporting it has agreed to acquire the FPSO (Floating Production, Storage and Offloading) business from Altera Infrastructure Group, a leading offshore energy infrastructure company owned by Brookfield Asset Management’s private equity business. The investment group with $465 billion of assets under management has decided to enter the business due to the strong opportunities.

Altera currently has a fleet of six FPSOs deployed in Brazil, Dubai, and Cote d’Ivoire. It also has two FSOs operating off Cote d’Ivoire and in the Gulf of Thailand.

“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,” said Bob Maguire, Co-Head of Carlyle International Energy Partners (CIEP). “This portfolio benefits from long-term contracts, strong FPSO market fundamentals, and exposure to world-class operators which position it well for success.” 

It is part of continuing efforts that have been reshaping the business of UK-based Altera Infrastructure. It reorganized through the US bankruptcy proceeding in late 2022. At the end of last year, it sold its 
interests in Altera Shuttle Tankers, a fleet of 18 shuttle tankers in Brazil, Canada, and the North Sea, to Maistros Shiptrade, a company affiliated with the Angelicoussis Group.

The business being acquired by Carlyle includes ownership of the FPSOs and the FSO (Floating Storage and Offloading), which are underpinned by long-term contracts with major oil and gas companies. The portfolio includes the Petrojarl Kong FPSO and FSO Yamoussoukro, deployed in the Ivory Coast with Eni, which represents the first net-zero emission upstream project in Africa, the Piranema FPSO, as well as 50 percent of the Altera&Ocyan joint-venture asset Pioneiro de Libra FPSO, deployed in Brazil with Petrobras. Additionally, the business has a strong pipeline of future growth and redeployment opportunities.

Carlyle says it will support the Altera FPSO business through its sector-specific investment team. It promises available follow-on equity capital for accretive growth and M&A, building on the company’s track record in redeployments.