Private equity firm Five Point Capital Partners LLC closed Five Point Capital Midstream Fund I and II LP, the firm said in a statement. Total equity commitments to the fund were more than $450 million, exceeding the fundraising target of $400 million. The fund’s investors included public pension funds, university endowments and foundations, multinational corporations, insurance companies, fund-of-funds and family offices.
The fund will focus on investments in midstream infrastructure and seek to partner with exceptional management teams to build world class businesses. To date, the fund has made an 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.
Debevoise & Plimpton LLP served as legal counsel and Mercury Capital Advisors LLC served as placement agent.
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