Five Point Energy
Five Point Energy is a Houston-based private equity firm that builds and operates midstream energy infrastructure platforms, primarily water management and surface land, across the Permian Basin for blue-chip E&P customers, managing approximately $8.5 billion of assets under management across four funds.
- Company typePrivate
- Founded2012
- HeadquartersThe Woodlands, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Five Point Energy does
Five Point Energy is a Houston-based private equity and infrastructure investment firm founded in 2012 that builds, operates, and exits midstream energy infrastructure platforms across the Permian Basin. The firm focuses on four interlocking strategies: water management (WaterBridge, Deep Blue), surface management (LandBridge), sustainable midstream (San Mateo Midstream, Northwind Midstream, Desert Environmental, Twin Eagle), and powered land/data-center enablement (PowerBridge). Five Point originates and underwrites deals using a proprietary GIS analytics platform maintained by a 10-person Nucleus Team that manages approximately 30 billion discrete data points and roughly 500,000 lines of code, giving the firm granular visibility into acreage, pipelines, and infrastructure across its core basins. The firm has raised approximately $4 billion of LP commitments across four funds and a yield vehicle, with Fund IV closing oversubscribed at $1.4 billion in September 2024, and manages roughly $8.5 billion of AUM.
The business model is a hybrid of PE fund management (recurring management fees and performance carry) and direct infrastructure operating economics through majority-controlled and JV portfolio companies. Five Point generates revenue through management fees on approximately $8.5 billion AUM, performance carry on exits, and equity value creation across eight portfolio companies serving blue-chip Permian E&P operators including Diamondback Energy, Matador Resources, Devon Energy, and VTX Energy (Vitol). Its customer relationships are structured as long-term, acreage-dedication contracts and 50/50 joint ventures (e.g., 15-year dedication from Diamondback at Deep Blue; 52,000-acre dedication from Devon at NDB Midstream). The firm's exit track record includes taking LandBridge Company public on the NYSE (June 2024), WaterBridge Infrastructure public on the NYSE (September 2025), and selling Northwind Midstream to MPLX LP for $2.375 billion in August 2025, a transaction that returned more than 3x invested capital.
Five Point Energy firmographics
Firmographics- Name
- Five Point Energy
- Legal name
- Five Point Energy LLC
- Website
- https://fpinfra.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Five Point Energy is a Houston-based private equity firm that builds and operates midstream energy infrastructure platforms, primarily water management and surface land, across the Permian Basin for blue-chip E&P customers, managing approximately $8.5 billion of assets under management across four funds.
- Ownership category
- akta.pro rank
Five Point Energy industry classification
Industry- Product category
- Energy Infrastructure Private Equity
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)
- SIC
- Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)
- akta.pro secondary industries
- Natural Resources — Energy & Mineral Resources (FSAAAKAJ), Energy & Sustainability / Climate Growth Equity (FSANACAG), Real Assets — Energy & Power Infrastructure (Renewables, Conventional, Storage) (FSAHAIAD), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
Keywords
Where Five Point Energy is headquartered
LocationHeadquarters
- HQ city
- The Woodlands
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Five Point Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Private Equity Management Fees: Five Point earns management fees on assets under management across its multiple investment funds, including Fund IV which closed with $1.4 billion in capital commitments.
- Portfolio Company Value Creation: The firm generates returns through building and operating infrastructure companies (WaterBridge, LandBridge, San Mateo, Deep Blue, Northwind), taking them public via IPOs and exiting through strategic sales at premium valuations.
- Carried Interest / Performance Fees: Realizes carried interest gains from successful portfolio company exits, including the Northwind Midstream sale to MPLX for $2.375 billion.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Five Point Energy product offering
Product offeringCore offering
Five Point Energy is a private equity and infrastructure investor that raises capital from institutional investors through closed-end funds and deploys it into energy infrastructure platforms, including produced water management, surface land management, natural gas midstream, and sustainable infrastructure businesses across the Permian, Delaware, and Midland Basins. The firm builds, operates, and exits these platforms through IPOs and strategic sales.
Product overview
Five Point Energy operates as a private equity and infrastructure investor with a portfolio of distinct platform companies rather than a unified product. The firm's portfolio includes: WaterBridge (produced water management), LandBridge (surface land management), San Mateo Midstream (gas/oil/water midstream services), Northwind Midstream (sour gas treating and carbon sequestration), Deep Blue Water (sustainable water recycling), Twin Eagle (energy marketing), Desert Environmental (waste handling), and PowerBridge (data center land solutions). These platforms collectively address water management, surface management, and sustainable infrastructure needs in North American energy basins.
Differentiator
Problem solved
Functional benefit
Products and services
- Five Point Energy Fund IV LP Specialty infrastructure fund focused on sustainable infrastructure investments in water management, surface management, and powered land sectors. Sold to institutional investors including endowments, public pensions, and family offices.
- Five Point Energy Fund I (Midstream Energy Fund) Inaugural midstream energy fund focused on midstream energy infrastructure investments in the Permian Basin and other U.S. basins.
- WaterBridge Industry-leading midstream water management platform providing permanent, integrated water infrastructure solutions for produced water management requirements of E&P companies throughout North America.
- LandBridge Land management platform generating recurring cash flow from active land management through water management royalties, minerals, water sales, surface use agreements, and damages.
- San Mateo Midstream Midstream platform providing natural gas gathering and processing, crude oil gathering, and produced water gathering and disposal services to E&P customers in the Delaware Basin.
- Northwind Midstream In-basin natural gas midstream business providing off-spec gas treating and carbon sequestration, as well as gas gathering, processing and marketing services in the Northern Delaware Basin.
- Deep Blue Water Sustainable water management company with gathering, storage, disposal, recycling, and reuse operations throughout the Midland Basin.
- PowerBridge Develops powered land solutions to support data center campuses, leveraging expertise in land management, environmental water management, and energy infrastructure.
Quantifiable outcome
- Reduced over 95,000 metric tons of carbon emissions in 2019 through pipeline network replacing truck hauling (equivalent to ~52 million truck miles eliminated)
- +3 more outcomes
Companies that use Five Point Energy
Customer profileNamed customers5 records
Segments1 record
Ideal customer profiles2 records
Five Point Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Five Point Energy partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered exit transaction, core and flagship.
- MPLX LPexit transactionFive Point sold Northwind Midstream to MPLX LP for $2.375 billion in cash consideration. Northwind provides sour gas gathering, treating, and processing services in Lea County, New Mexico. Five Point more than tripled its money from this exit.
- VTX Energy Partners (Vitol)coreLandBridge acquired approximately 46,000 surface acres (Wolf Bone Ranch) from VTX Energy Partners, a Vitol investment. VTX provided minimum annual revenue commitment of $25 million for each of the next five years including surface operations, brackish water for completions, and produced water handling royalties.
- Diamondback EnergyflagshipFormed Deep Blue Midland Basin LLC joint venture in September 2023, creating the largest independent water infrastructure platform in the Midland Basin. Diamondback entered 15-year dedication for produced water and supply water. Diamondback retained 30% equity interest and received ~$500 million upfront. In September 2025, Deep Blue acquired Diamondback's Environmental Disposal Systems for $750 million.
- BechtelcoreFive Point entered exclusive agreement with Bechtel to utilize LEEDS (Low Energy Ejector Desalination System) technology for produced water desalination in the Permian Basin. Deep Blue operates Bechtel's pilot unit at a saltwater disposal well near Midland, Texas. LEEDS treats produced water to quality suitable for reintroduction into local ecosystem or commercial applications using less energy than traditional thermal evaporation.
- Devon EnergycoreWaterBridge NDB and Devon Energy formed NDB Midstream LLC strategic partnership. Devon contributed 18 SWDs with ~375,000 bpd permitted capacity and ~210 miles of produced water pipelines. Devon received 30% equity interest and committed all produced water within ~52,000 acres area of mutual interest in the Stateline region of the Delaware Basin.
- Matador Resources CompanyflagshipFive Point and Matador formed San Mateo Midstream joint venture in 2017 to provide midstream services (gas processing, oil gathering, produced water disposal) in the Delaware Basin. Matador serves as anchor customer. The platform has grown to ~720 MMcf/d gas processing capacity and ~475,000 bbl/d water disposal capacity. In March 2026, Five Point closed a continuation vehicle extending ownership of San Mateo.
- Twin Eagle Resource ManagementcoreFive Point and GSO Capital Partners acquired 50% interest in Twin Eagle Resource Management. Twin Eagle is a leading North American energy marketer with focus on natural gas across the United States, Canada, and Mexico. Founded by industry veterans Chuck Watson and Griff Jones.
Scale indicators15 records
Recent moves11 records
Expansion highlights6 records
Five Point Energy competitors and assessment
Company assessmentDirect peers
- Energy Capital Partners: Energy Capital Partners is a private equity firm focused on power generation, midstream, and energy infrastructure investments. It is a direct peer to Five Point given its overlapping focus on U.S. energy infrastructure equity investing, large fund vehicles, and portfolio of midstream/utility-scale power platforms.
- ArcLight Capital Partners: ArcLight is a PE firm focused on energy infrastructure including midstream, power, and renewables across North America. Comparable to Five Point through its midstream and infrastructure investment focus, similar fund sizes, and strategy of building platforms alongside E&P and utility counterparties.
- EnCap Investments: EnCap is one of the largest energy-focused PE firms in the U.S., with deep exposure to upstream, midstream, and energy infrastructure. Comparable to Five Point given its energy-only mandate, partnership-based platform creation model, and strong relationships with U.S. E&P operators.
- Stonepeak: Stonepeak is a North American infrastructure-focused PE firm investing in energy, communications, and transport infrastructure. Comparable to Five Point through midstream/energy infrastructure deal-making and partnership-driven platform creation, with similarly sized core infrastructure funds.
- Tailwater Capital: Tailwater Capital is a PE firm focused exclusively on U.S. midstream and energy infrastructure, with a strong Permian Basin overlap. It is a direct peer to Five Point given its concentrated midstream/water investment mandate, partnership model with E&P operators, and similar fund sizing in the energy infrastructure space.
Broad incumbents
- Global Infrastructure Partners (BlackRock): GIP, now part of BlackRock, is a leading global infrastructure investor with exposure to energy midstream, utilities, and digital infrastructure. Comparable to Five Point's strategy through energy infrastructure investing, but materially larger, more diversified across geographies and subsectors, and serving a broader LP base.
- KKR Global Infrastructure: KKR's infrastructure platform invests across energy, transport, digital, and social infrastructure. Comparable to Five Point through energy infrastructure equity investing and large fund vintages, though significantly broader in mandate and global in scope.
- Brookfield Infrastructure Partners: Brookfield Infrastructure is one of the world's largest infrastructure investors with operations across midstream, utilities, renewables, and digital infrastructure. Comparable through energy midstream and infrastructure exposure but operates at vastly greater scale and across more geographies.
- I Squared Capital: I Squared Capital is a global infrastructure investor with energy midstream and North American infrastructure exposure. Comparable to Five Point through infrastructure PE mandate and energy deal flow, though broader geographically and across infrastructure subsectors.
- Blackstone Infrastructure Partners: Blackstone's infrastructure platform invests across energy, digital, and transport infrastructure globally. Comparable through large-scale infrastructure equity investing and energy midstream exposure, with a much broader mandate and deeper LP relationships.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Five Point Energy social profiles
Digital presenceFive Point Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Five Point Energy leadership team
Management profileNumber of profiles
Profiles11 records
Five Point Energy subsidiaries and ownership
Company hierarchySubsidiaries8 records
Five Point Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Five Point Energy M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Five Point Energy
What does Five Point Energy do?
Five Point Energy is a private equity and infrastructure investor that raises capital from institutional investors through closed-end funds and deploys it into energy infrastructure platforms, including produced water management, surface land management, natural gas midstream, and sustainable infrastructure businesses across the Permian, Delaware, and Midland Basins. The firm builds, operates, and exits these platforms through IPOs and strategic sales.
Is Five Point Energy a public or private company?
Five Point Energy is a private company. It is classified as management employee owned and is currently operating.
When was Five Point Energy founded?
Five Point Energy was founded in 2012. It employs 11 to 50 people.
Where is Five Point Energy based?
Five Point Energy is headquartered in The Woodlands, United States, in the North America region.
How does Five Point Energy make money?
Three revenue lines are on record. Private Equity Management Fees are the primary driver. The others are portfolio Company Value Creation and carried Interest / Performance Fees.
Who are Five Point Energy's main competitors?
Direct peers on record are Energy Capital Partners, ArcLight Capital Partners, EnCap Investments, Stonepeak and Tailwater Capital. Broad incumbents are Global Infrastructure Partners (BlackRock), KKR Global Infrastructure, Brookfield Infrastructure Partners, I Squared Capital and Blackstone Infrastructure Partners.
Does Five Point Energy have an API?
No public API is recorded for Five Point Energy.
What industry is Five Point Energy in?
Five Point Energy's product category is Energy Infrastructure 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 525 and its SIC code is 1389.