In mid-December, Pembina Pipeline Corp. (NYSE: PBA) struck an $825 million deal to buy its partner Enbridge (NYSE: ENB) out of their Alliance, Aux Sable, and NRGreen joint ventures. That was the latest of several notable midstream transactions in 2023, and is giving hope to private equity that 2024 may bring exit opportunities for portfolio companies that “are long in the tooth,” as one expert says.

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