Five Point Closes Inaugural Fund with $450M
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.