Five Point Closes Inaugural Fund with $450M

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Five Point Capital Partners has closed its first fund with $450 million.

The fund, Five Point Capital Midstream Fund I and II LP, will invest in the energy infrastructure sector. Five Point surpassed its $400 million fundraising goal. Mergers & Acquisitions reported that the firm was fundraising in May.

Investors included public pension funds, university endowments, foundations, multi-national corporations, insurance companies, fund-of-funds and family offices.

So far the fund has made two investments – Twin Eagle Resource Management, a midstream energy infrastructure marketing business, and Redwood Midstream, an oil and gas gathering and processing business.

Debevoise & Plimpton LLP served as legal counsel, while Mercury Capital Advisors LLC acted as placement agent.

For more on inaugural funds, see Fledgling Funds Take Off.

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