CSL Capital Management

What CSL Capital Management does

CSL Capital Management, LLC is a Houston-based, SEC-registered private equity and venture capital firm founded in 2008 by Charlie Leykum, focused on small to mid-sized energy services, equipment, and technology companies. The firm takes a "Partners for Strategic Capital" approach, deploying capital across the lifecycle from de novo company formation and growth equity to recapitalizations and buyouts, with typical check sizes of $5MM-$100MM in private equity and $500K-$5MM in venture through its CSL Ventures arm. Since inception, CSL has raised in excess of $2.0 billion in equity capital and commitments across multiple vehicles, including the $420 million CSL Energy Opportunities Fund II (closed 2015) and the follow-on Fund III that houses CSL Ventures (launched August 2019).

The firm generates revenue primarily through management fees and carried interest on its fund vehicles, with capital sourced from financial institutions, endowments, foundations, family offices, and high net worth individuals. CSL's underlying investment engine relies on deep sector relationships built through its leadership, which includes former Schlumberger Chairman/CEO Andrew Gould, former National Oilwell Varco CEO Pete Miller, and former Schlumberger Corporate Venture Fund head Imran Kizilbash, rather than on proprietary technology. Notable portfolio activity includes the Ranger Energy Services NYSE IPO (2017), the Sentinel Energy Services NASDAQ SPAC IPO (2017), the $206 million acquisition of Weatherford's laboratory services business (2019), and multiple strategic exits to acquirers including Schlumberger, Berkshire Hathaway/LiquidPower, Imerys, Calfrac, and DeepOcean.

CSL distributes capital and sources deals through direct outreach to entrepreneurs and management teams, co-investment partnerships with strategics and financial sponsors (notably Baker Hughes and Goldman Sachs Merchant Banking), and event-driven channels including CERAWeek and the Rice Energy Finance Summit. The firm's investor base and portfolio span North America, Europe (UK), and Asia (India), while portfolio companies operate across upstream oil and gas, midstream, oilfield services, completions, sand, chemicals, subsea/ROV, and energy software/IoT.

Name

CSL Capital Management

Legal name

CSL Capital Management, LLC

Website

https://cslenergy.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

CSL Capital Management is a Houston-based SEC-registered private equity and venture capital firm founded in 2008, investing in small to mid-sized energy services, equipment, and technology companies with over $2.0 billion raised since inception across PE and venture vehicles.

Ownership category

akta.pro rank

Product category

Energy-focused Private Equity & Venture Capital Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Private equity funds
• Energy sector investments
• Venture capital
• Energy services investing
• Portfolio company management

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Private Equity Fund Management: CSL Capital Management generates revenue through management fees and carried interest (performance fees) from managing private equity and venture capital funds focused on the energy sector. The firm has raised over $2.0 billion in equity capital and commitments since inception in 2008 across various investment vehicles including CSL Energy Opportunities Fund II and Fund III. CSL Ventures operates as the venture capital arm within the firm's latest fund.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

CSL Capital Management is an SEC-registered private equity and venture capital firm that acquires controlling interests in small to mid-sized energy services, equipment, and technology companies. The firm invests across the company lifecycle — de novo formations, growth capital, recapitalizations, and IPO/SPAC exits — through dedicated vehicles including the CSL Energy Opportunities Fund series and the CSL Ventures early-stage arm. Investment sizes range from $500K to $5MM for venture deals and $5MM to $100MM for private equity, with co-invest capability up to $900MM enterprise value.

Product overview

CSL Capital Management is an SEC registered investment firm that operates as a private equity and venture capital firm focused on the energy services, equipment and technology sectors. The firm manages multiple investment vehicles including private equity funds (CSL Energy Opportunities Fund II with $420 million) and a venture capital arm (CSL Ventures, launched in 2019 as part of Fund III). The firm also sponsors Sentinel Energy Services Inc., a special purpose acquisition company (SPAC). CSL takes a hands-on, Partners for Strategic Capital approach, working with entrepreneurs and management teams throughout the company lifecycle from de novo launches to growth investments to realizations. Since inception in 2008, the firm has raised in excess of $2.0 billion in equity capital and commitments.

Differentiator

Problem solved

Functional benefit

Products and services

• CSL Energy Opportunities Fund II Private equity fund focused on energy services, equipment and manufacturing opportunities with $420 million in capital commitments; provides institutional capital for small to mid-sized energy companies.
• CSL Ventures Venture capital arm launched in August 2019 focused on early stage and technology-focused opportunities across the energy services industry; part of CSL Energy Opportunities Fund III. Invests $500K–$5MM with paths to additional growth investments.
• Sentinel Energy Services Inc. Special purpose acquisition company (SPAC) sponsored by an affiliate of CSL Capital Management, focused on the energy services and equipment sectors; formed for the purpose of entering into a business combination with one or more target companies.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• CERAWeek / IHS MarkitminorGTM or Marketing Partner · 21 March 2021CSL Capital Management participated in CERAWeek's Energy Transition Venture Day pitch competition, sharing stage with industry colleagues in engaging session on energy transition and sustainability investing.
• Frost & SullivanminorOthers · 1 March 2021Frost & Sullivan recognized Machfu with 2021 North American Enabling Technology Leadership Award for its Edge-to-Edge Automation capabilities. Machfu is a CSL Ventures portfolio company.
• EvercoreminorGTM or Marketing Partner · 8 January 2021Evercore co-hosted a technology showcase with CSL Ventures featuring investors, entrepreneurs, energy management executives and industry strategists discussing key emerging themes and technologies in the energy industry.
• ExxonMobilcoreStrategic or Co-development Partner · 12 April 2020ExxonMobil signed partnership agreement with CSL Ventures' portfolio company REDLIST. Powered by REDLIST's mobile-ready, cloud-based app, ExxonMobil's Mobil Serv Lubrication Management brings multiple work and data streams into one system, improving collaboration, productivity and data control for operators.
• Rice University / Rice AllianceminorGTM or Marketing Partner · 7 November 2019Rice Alliance for Technology and Entrepreneurship hosted pitch competition at CERAWeek featuring technology showcase with CSL Ventures. Rice Alliance identified promising energy tech companies including Drilldocs, Revterra, Connectus Global, and Revolution Turbine Technologies.
• CSL VenturescoreOthers · 16 August 2019CSL Ventures was launched as a new investment initiative focused on early stage and technology-focused opportunities across the energy services industry. Part of CSL Energy Opportunities Fund III. Addresses growing need for long-term sustainable capital, operational knowledge and guidance for emerging energy technology companies.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Quantum Energy Partners: Houston-based PE firm dedicated to the energy sector, investing across upstream, midstream, and oilfield services with similar fund sizes and energy-vertical specialist positioning as CSL.
• Energy Capital Partners: Energy-focused private equity firm investing in power generation, midstream, and energy services with comparable vertical-specialist strategy and similar target enterprise values.
• White Deer Energy: Energy-focused middle-market private equity firm headquartered in Houston targeting oilfield services and energy infrastructure, directly comparable to CSL's investment size range and vertical focus.
• Pearl Energy Investments: Dallas-based PE firm pursuing control and growth investments in North American oil and gas, with similar upstream and oilfield services focus as CSL Capital.
• Tailwater Capital: Energy-focused private equity firm investing in midstream, upstream, and energy services with comparable investment size ranges and sector-vertical positioning.
• Hastings Equity Partners: Energy-focused lower middle-market PE firm investing in oilfield services and equipment companies with comparable check sizes and Houston presence, competing for similar platform investments.

Broad incumbents

• Blackstone Energy Partners: Mega-cap energy-focused PE arm of Blackstone, investing across oil and gas with multibillion-dollar funds; overlaps with CSL's energy services focus but at a far larger scale.
• Brookfield Asset Management (Energy Transition Funds): Large alternative asset manager with dedicated energy transition strategies that compete for energy services and infrastructure deals, operating at much greater scale than CSL.

Others

• Saudi Aramco Energy Ventures: Corporate venture capital arm of Saudi Aramco that co-invests in energy technology startups alongside CSL Ventures (e.g., Gryphon Oilfield Solutions, DeepIQ), serving as a CVC partner and adjacent investor.
• Schlumberger Technology Investments (SLB Ventures): Former Schlumberger Corporate Venture Fund (previously led by Imran Kizilbash, now CSL MD) investing in energy tech; both CSL Ventures and SLB Ventures share deal flow and co-invested in DeepIQ.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CSL Capital Management