Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. announced last week that it has issued 1,700,022 common units in a private placement to a group of institutional investors for proceeds of approximately USD 45 million (excluding its general partner's proportionate capital contribution). The Partnership intends to use the proceeds from the sale of common units to partially fund its previously announced acquisition of four newbuilding shuttle tankers that are scheduled to deliver in mid-2013.