Five Point Capital Partners has held a final close on its inaugural private equity pool called Five Point Capital Midstream Fund I and II, LP, with total equity of more than $450 million. The pool beat its original $400 million target. Five Point Capital, founded in 2011, will focus on investments in the midstream energy infrastructure sector, partnering with management teams to build businesses.
Five Point Capital Partners LLC (“Five Point”), a private equity firm focused on investments in the midstream energy infrastructure sector, today announced the final closing of Five Point Capital Midstream Fund I and II L.P. (the “Fund”). Total equity commitments to the Fund were in excess of $450 million, exceeding its fundraising target of $400 million. The Fund received strong support from a diversified base of investors, including leading public pension funds, pre-eminent university endowments and foundations, multi-national corporations, insurance companies, fund-of-funds, and family offices.
The Fund will focus on investments in the midstream energy infrastructure sector and seek to partner with exceptional management teams to build world class businesses. Led by partners David Capobianco and Matthew Morrow, the Five Point team has extensive industry and financial expertise, including more than 100 years of collective experience investing in and operating midstream companies. To date, the Fund has made a highly successful investment in Twin Eagle Resource Management, a midstream energy infrastructure and energy marketing business, and backed a talented management team to form Redwood Midstream, a multi-phase oil, gas, and liquids gathering and processing business.
David Capobianco, Managing Partner of Five Point, said, “We are pleased with the Fund’s reception and would like to thank our limited partners for their support. Five Point has a demonstrated record of success in identifying industry inflection points early, creating and investing within proprietary investment themes, and building value through operational expertise. We see extraordinary opportunities in the current midstream energy market, and believe that the combination of near-to-intermediate term dislocation and long term growth will create a superior climate for our focused investment strategies. We are well positioned to execute on our investment approach, which we believe protects the downside while maintaining asymmetric upside in the midstream companies we build.”
Matthew Morrow, Partner of Five Point, said “Five Point provides value-added capital to the companies we partner with, including direct industry expertise that can help build nascent businesses into valuable industry leaders. We are excited to work with our existing management teams as well as new managers in the years ahead as we maximize risk-adjusted returns for our investors.”
Debevoise & Plimpton LLP served as legal counsel and Mercury Capital Advisors, LLC served as placement agent.
About Five Point Capital Partners LLC
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America. Five Point’s investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector. Five Point was founded in 2011 and is based in The Woodlands, Texas. Five Point is currently investing from Five Point Capital Midstream Fund II L.P. and manages more than $450 million of capital commitments. For further information, please visit www.fivepointcp.com.