The story begins with TPC Corporation
The managing directors of Haddington have a business partnership that began before the first Haddington-managed fund was established in 1998. In 1984, Managing Directors, Chris Jones and John Strom, co-founded TPC Corporation, a midstream operating company with three business lines—natural gas marketing, storage, and gathering and processing. Managing Director, Scott Jones, joined TPC Corporation in 1992. The three were instrumental in TPC’s growth to $700 million in revenues. Together, they completed over $175 million of midstream acquisitions and developed another $226 million of midstream assets. TPC was sold to PacifiCorp in 1997 and the team then applied that experience to investing private capital in the midstream energy sector with the formation of Haddington Ventures in 1998. Since its formation, Haddington has raised more than $850 million in private equity capital across multiple funds and co-investments and has participated in the development of some of America’s most innovative midstream energy infrastructure.
TPC provided storage services to buyers and sellers of natural gas.