Kimmeridge
Kimmeridge is a private alternative asset manager founded in 2012 that invests exclusively in the energy sector on behalf of institutional LPs, managing $6.5B+ across private upstream, public engagement, and carbon solutions strategies anchored by an integrated gas-to-LNG platform.
- Company typePrivate
- Founded2012
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Kimmeridge does
Kimmeridge is a New York-headquartered private alternative asset manager founded in 2012 by Managing Partners Ben Dell, Neil McMahon, and Henry Makansi, focused exclusively on the energy sector. The firm manages $6.5 billion+ in Limited Partner commitments from institutional investors (pension funds, sovereign wealth funds, insurance companies, endowments, and family offices) and operates through three core strategies: Private Investments in unconventional US oil and gas at the front end of the cost curve; Public Engagement (KEEP), an activist strategy investing in public energy companies to drive capital allocation reform; and Carbon Solutions, an energy-transition platform spanning carbon removal and distributed energy infrastructure. The firm employs 65+ investment and operations professionals across offices in New York, Denver, London, and Abu Dhabi (ADGM).
Kimmeridge has built an integrated "wellhead-to-water" portfolio anchored by Caturus, a rebranded integrated natural gas platform that consolidates upstream production (Lithos Resources, Titan Exploration, post-Sitio Royalties sale) with midstream and LNG export infrastructure (Commonwealth LNG — a 9.5 Mtpa Louisiana facility that reached Final Investment Decision in May 2026 with $9.75B of project financing closed). Other principal portfolio companies include Chestnut Carbon (nature-based reforestation, with a 25-year offtake with Microsoft), 38 Degrees North (distributed generation and community solar), SYSO Technologies (renewable asset market operations), and Civitas Resources (the carbon-neutral DJ Basin operator formed under Kimmeridge's leadership in 2021). Strategic investors in the Caturus platform include Mubadala Energy (24.1%) and CPP Investments (31%).
The firm generates revenue primarily through traditional 2-and-20 alternative asset management fees: management fees on committed capital and performance fees / carried interest on exits. Its go-to-market is direct institutional sales to LPs, supplemented by thought leadership via a research distribution platform, the "Barrels to Bytes" podcast, and active participation in industry conferences (e.g., CERAWeek). Kimmeridge has been an active acquirer and bidder — including the $6B unsolicited offer for Ascent Resources (Dec 2025), the $2.1B SilverBow bid (2024), and the Galvan Ranch acquisition (Apr 2026) — and pursues shareholder activism in public E&Ps (Devon Energy, Coterra Energy, Advantage Energy).
Kimmeridge firmographics
Firmographics- Name
- Kimmeridge
- Legal name
- Kimmeridge Energy Management Company, LLC
- Website
- https://kimmeridge.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Kimmeridge is a private alternative asset manager founded in 2012 that invests exclusively in the energy sector on behalf of institutional LPs, managing $6.5B+ across private upstream, public engagement, and carbon solutions strategies anchored by an integrated gas-to-LNG platform.
- Ownership category
- akta.pro rank
Kimmeridge industry classification
Industry- Product category
- Alternative Asset Management — Energy Sector Private Equity
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)
- akta.pro secondary industries
- Natural Resources — Energy & Mineral Resources (FSAAAKAJ), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
Keywords
Where Kimmeridge is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Kimmeridge business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Management fees: Traditional 2-and-20 private equity fee structure: charging management fees on committed capital (typically 2% of AUM) plus performance fees (typically 20% of profits above hurdle rate).
- Performance/carry fees: Carried interest earned when portfolio investments achieve target returns, aligning firm and investor interests.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Kimmeridge product offering
Product offeringCore offering
Kimmeridge is a private alternative asset manager focused exclusively on the energy sector, raising and deploying institutional capital across three strategies: Private Investments in unconventional US oil and gas assets, Public Engagement (KEEP) in listed energy companies, and Carbon Solutions supporting the energy transition. The firm operates these strategies through wholly-owned portfolio companies spanning upstream production, LNG export infrastructure, distributed energy, and nature-based carbon removal.
Product overview
Kimmeridge is an alternative asset manager founded in 2012, focused exclusively on the energy sector with $6.5B+ in LP commitments. The firm operates three core investment strategies: Private Investments (unconventional US oil and gas at front-end of cost curve), Public Engagement/KEEP (advocacy in public energy companies for shareholder value), and Carbon Solutions (accelerating energy transition to net zero). The integrated portfolio spans upstream production (Lithos Resources, Titan Exploration, Sitio Royalties), midstream and LNG export (Caturus, Commonwealth LNG), energy transition infrastructure (38 Degrees North, SYSO Technologies), carbon removal (Chestnut Carbon), and operated assets (Civitas Resources). This wellhead-to-water integrated model combines exploration/production with liquefaction capabilities and market access for global LNG exports.
Differentiator
Problem solved
Functional benefit
Brands
- KEEP (Kimmeridge Energy Engagement Partners): Public engagement strategy that invests in public energy companies to advocate for shareholders and enact change, focusing on business model reform, aligning executive and shareholder interests, and environmental stewardship.
- Kimmeridge Carbon Solutions
Products and services
- Private Investments Strategy Kimmeridge's flagship investment strategy focuses on unconventional US oil and gas assets at the front end of the cost curve, with flexible investment structures and an emphasis on asset quality. Designed for institutional investors seeking energy-focused private equity exposure.
- Public Engagement Strategy (KEEP — Kimmeridge Energy Engagement Partners)
- Carbon Solutions Strategy
- Titan Exploration (Powder River Basin Upstream)
- Sitio Royalties (Mineral and Royalty Interests)
Companies that use Kimmeridge
Customer profileNamed customers8 records
Segments2 records
Ideal customer profiles2 records
Kimmeridge technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Kimmeridge partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered major, core and minor.
- Baker HughesmajorEquipment supplier providing mixed-refrigerant compressors for Commonwealth LNG facility.
- HoneywellmajorEquipment supplier providing main cryogenic heat exchangers for LNG liquefaction process.
- Solar TurbinesmajorEquipment supplier providing Titan 350 gas turbine-generators powering facility operations.
- SM EnergymajorSeller of Galvan Ranch assets to Caturus, adding ~60,000 net acres in South Texas and ~250 MMcfe/d production from 260 wells.
- GlencorecoreIncreased LNG offtake commitment by 50% to 3 million tons annually under 20-year deal with Commonwealth LNG. Major buyer of LNG exports.
- Mercuria Energy TradingcoreIncreased LNG purchase commitment to 1.5 million tons per year from Commonwealth LNG facility under long-term agreement.
- Aramco Trading Americascore20-year LNG offtake agreement with Caturus for purchases from Commonwealth LNG facility.
- Bion Environmental TechnologiesminorMOU to explore use of Bion's ammonia recovery technology at RNG facility, potential joint venture development for sustainable energy projects.
- EQT Corporationcore20-year LNG sale and purchase agreement for offtake from Commonwealth LNG export facility.
- PETRONAScoreLong-term LNG offtake agreement holder for Commonwealth LNG exports.
- Woodside EnergycoreSupply agreement holder for LNG purchases from Commonwealth LNG facility.
- JERAcore20-year sale and purchase agreement for LNG offtake from Commonwealth LNG as major Asian buyer.
- CB&ImajorAwarded major LNG storage tank construction contract for Commonwealth LNG facility.
- Technip EnergiescoreLead EPC contractor for Commonwealth LNG facility construction. Awarded full notice to proceed and ordering long-lead equipment. Utilizing modular construction approach.
Scale indicators16 records
Recent moves6 records
Expansion highlights7 records
Kimmeridge competitors and assessment
Company assessmentDirect peers
- Quantum Energy Partners: Houston-based private equity firm exclusively focused on the energy sector with a comparable strategy of investing across upstream oil and gas, midstream, and energy transition. Quantum has a similar headcount and AUM scale and competes for the same institutional LP mandates.
- EIG Partners: Washington DC-based private equity firm focused on energy and infrastructure investing with a multi-strategy approach spanning equity and credit. EIG's ~$22B AUM and energy infrastructure mandate closely parallel Kimmeridge's integrated gas/LNG strategy.
- ArcLight Capital Partners: Boston-based private equity firm dedicated to energy infrastructure investments including midstream, power, and renewables. ArcLight's integrated energy infrastructure approach and institutional LP base make it a comparable peer for Kimmeridge's energy-focused strategy.
- Energy Capital Partners: Connecticut-based private equity firm focused on power generation, midstream energy, and energy transition. ECP's diversified energy infrastructure approach and comparable AUM make it a direct peer to Kimmeridge across multiple portfolio company categories.
- Blackstone Infrastructure Partners: Blackstone's infrastructure platform invests in energy infrastructure including LNG, midstream, and renewables. Co-invested in Commonwealth LNG project financing alongside Kimmeridge, making it both a peer and a financial partner.
Broad incumbents
- Brookfield Asset Management: One of the largest global alternative asset managers with a sizeable renewable energy and infrastructure franchise. Brookfield competes for the same institutional capital allocations in energy infrastructure while offering a much broader multi-asset platform.
- KKR (Real Assets / Energy): Global alternative asset manager with a significant real assets strategy including upstream, midstream, and energy transition. KKR's energy and infrastructure platform competes for institutional LP mandates at a much larger scale than Kimmeridge.
- Carlyle Group (Energy): Global alternative asset manager with a dedicated energy and infrastructure strategy. Carlyle was reportedly evaluating a stake in Commonwealth LNG, demonstrating direct overlap with Kimmeridge's energy infrastructure deal flow.
- Apollo Global Management: Global alternative asset manager with a large infrastructure and energy practice via Apollo Infrastructure Opportunities. Ares Infrastructure Opportunities (managed within the broader Apollo-affiliated complex) co-invested in Commonwealth LNG.
- Warburg Pincus (Energy): Global private equity firm with a long-standing energy practice. Kimmeridge Managing Partner Henry Makansi previously served as Principal and Head of the European Energy Practice at Warburg Pincus, reflecting the firms' directly comparable investment approach in the energy sector.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Kimmeridge social profiles
Digital presenceKimmeridge financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kimmeridge leadership team
Management profileNumber of profiles
Profiles13 records
Kimmeridge subsidiaries and ownership
Company hierarchySubsidiaries7 records
Kimmeridge funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kimmeridge M&A and investment
M&A and investmentM&A
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kimmeridge
What does Kimmeridge do?
Kimmeridge is a private alternative asset manager focused exclusively on the energy sector, raising and deploying institutional capital across three strategies: Private Investments in unconventional US oil and gas assets, Public Engagement (KEEP) in listed energy companies, and Carbon Solutions supporting the energy transition. The firm operates these strategies through wholly-owned portfolio companies spanning upstream production, LNG export infrastructure, distributed energy, and nature-based carbon removal.
Is Kimmeridge a public or private company?
Kimmeridge is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Kimmeridge founded?
Kimmeridge was founded in 2012. It employs 51 to 100 people.
Where is Kimmeridge based?
Kimmeridge is headquartered in New York, United States, in the North America region.
How does Kimmeridge make money?
Two revenue lines are on record. Management fees are the primary driver. The others are performance/carry fees.
Who are Kimmeridge's main competitors?
Direct peers on record are Quantum Energy Partners, EIG Partners, ArcLight Capital Partners, Energy Capital Partners and Blackstone Infrastructure Partners. Broad incumbents are Brookfield Asset Management, KKR (Real Assets / Energy), Carlyle Group (Energy), Apollo Global Management and Warburg Pincus (Energy).
Does Kimmeridge have an API?
No public API is recorded for Kimmeridge.
What industry is Kimmeridge in?
Kimmeridge's product category is Alternative Asset Management — Energy Sector Private Equity. Its primary akta.pro industry code is FSANAEAB, Energy & Power Infrastructure Funds (Generation, Transmission, Storage), with a secondary code of FSAAAKAJ, Natural Resources — Energy & Mineral Resources. Its NAICS code is 523940 and its SIC code is 6282.