At the time of investment, Regency Gas Services was a natural gas transmission and processing company headquartered in Dallas, Texas. Regency owned and operated natural gas gathering systems, major transmission systems and cryogenic gas liquids processing plants in Louisiana, Texas and the mid-continent region. During the investment period, the business was transformed though the aggressive expansion of the natural gas pipeline in northern Louisiana to meet market demand. The investment was successfully realized through the Regency Energy Partners IPO. Regency was subsequently merged with Energy Transfer Partners (NYSE: ET)