Altera Infrastructure has announced the completion of the acquisition of its FPSO (Floating Production Storage and Offloading) business by global investment firm Carlyle (NASDAQ: CG), marking the beginning of a new chapter as an independent company dedicated exclusively to floating production solutions for the offshore energy industry.

With the transaction now complete, the company begins operations with a strong balance sheet, a clear long-term growth strategy, and a high-quality portfolio of operating assets. Altera’s global footprint spans major offshore oil and gas regions including the North Sea, Brazil, and West Africa, with a core fleet of Floating Production, Storage, and Offloading (FPSO) and Floating Storage and Offloading (FSO) units supporting world-class operators.

Chris Brett has assumed the role of Chief Executive Officer and will lead the company through its next phase of growth, supported by a newly established Executive Leadership Team bringing together the company’s Commercial & Major Projects, Operations, Finance, Legal, and People & Culture functions.

Together, the Executive Leadership Team brings deep expertise across commercial, operational and corporate functions to lead the company through its next phase of growth, focused on delivering long-term value for customers, employees and shareholders.

Chris Brett, Chief Executive Officer, said:

“We begin this journey with exceptional people, long-standing customer relationships and one of the strongest floating production portfolios in our industry. Backed by Carlyle’s long-term investment, we are well positioned to continue growing our business and creating value for our customers. Today is much more than a change of ownership. It marks the beginning of a new chapter for our company.”

“Our ambition is straightforward: to be the partner of choice for developing and operating floating production solutions. Everything we do will be built on safe operations, strong execution, trusted partnerships and a relentless focus on our customers.”

“I would like to thank every member of the Altera team whose commitment and professionalism have brought us to this milestone. I’m excited about what we will accomplish together in the years ahead.”

As part of the transaction, the FPSO business has acquired the Altera Infrastructure brand and naming rights and will continue to trade and operate under the Altera brand.

Looking ahead, Altera is well positioned for its next phase of growth. Supported by Carlyle’s long-term investment and deep sector expertise, the company intends to pursue both organic growth and strategic acquisitions while continuing to deliver innovative floating production solutions to customers around the world.

About Altera Infrastructure

Altera Infrastructure is a leading global energy infrastructure services group owned by Brookfield Asset Management’s private equity business, primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and West Africa.

Altera Infrastructure has consolidated assets of approximately $3 billion, consisting of offshore assets: floating production, storage and offloading (FPSO) units and floating storage and offtake (FSO) units. An additional three offshore units are managed through a joint venture. The majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $475 billion of assets under management as of March 31, 2026, Carlyle’s purpose is to connect people, ideas, and capital to fuel growth for companies and performance for investors. Carlyle employs more than 2,500 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.