/Investor DB

EnCap Flatrock Midstream

Private equity

San Antonio · 26 people tracked

Also known as FLATROCK ENERGY ADVISORS, LLC

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Investment thesis

EnCap Flatrock Midstream focuses on making targeted venture capital investments in top midstream management teams within the energy sector. Beyond providing capital, the firm supports its portfolio companies' growth through operational expertise, hands-on support, and access to an extensive network of industry contacts. EFM emphasizes long-term partnership, working to help each portfolio company achieve sustainable success and growth.

Source: firm website, verified Sep 29, 2026.

HQ
San Antonio, US
Instruments
Equity
Founded
2008
Tracked investments
11

Team · 26 people

from the firm's website & public directories
D. Martin Phillips· General Partner
David B. Miller· General Partner
David J. Kurtz· General Partner
Douglas E. Swanson Jr.· General Partner
Gary R. Petersen· General Partner
Jason M. DeLorenzo· General Partner
Morriss L. Hurt· General Partner
Robert L. Zorich· General Partner

What they invest in

from 8 of 11 portfolio companies

Energy ×8Logistics & Supply Chain ×5Cleantech ×1Climate Tech ×1

HQs:United States×7

Investments · 11 tracked

founders shown can be your intro path
Aspen Midstreamaspenmidstream.com✓ verified

Aspen Midstream operates a portfolio of natural gas transmission, gathering, processing, and related infrastructure assets serving oil and gas producers across North America.

EnergyLogistics & Supply ChainDallas, US

Co-investorsEnCap Energy Transition

Edgewatermidstreamedgewatermidstream.com✓ verified

Edgewater Midstream provides midstream services to the producing community, leveraging combined management and engineering expertise across its partner team.

EnergyLogistics & Supply ChainHouston, US

Co-investorsEnCap Energy Transition

Manchesterenergymanchesterenergy.comin✓ verified

Manchester Energy develops and operates a diversified energy logistics platform focused on midstream infrastructure and energy solutions.

CleantechClimate TechEnergyLogistics & Supply ChainHouston, US

Khalid A. Muslih(Chief Executive Officer)inForrest E. Wylie(Executive Vice President, Strategy and Commercial)

Co-investorsEnCap Energy Transition

Modamidstreammodamidstream.com✓ verified

Moda Midstream is an independent logistics provider specializing in midstream infrastructure, including marine terminals, crude storage, and pipeline assets serving the energy and petrochemical industries.

EnergyLogistics & Supply ChainKingwood, US

Co-investorsEnCap Energy Transition

Brazosmidstreambrazosmidstream.comin

Brazos Midstream is a midstream services provider operating in the Permian Basin's Midland Basin, serving oil and gas producers and operators.

Energy

Co-investorsEnCap Energy Transition

Clearforkmidstreamclearforkmidstream.com

Clearfork is a midstream oil and gas company with leadership possessing over 105 years of combined industry experience.

EnergyFort Worth, US

Kipper OverstreetBrent Worthy(CFO)

Co-investorsEnCap Energy Transition

Greenfieldmidstreamgreenfieldmidstream.comin

Greenfield operates midstream infrastructure projects with a management team experienced across major U.S. basins, serving oil and gas producers.

EnergyLogistics & Supply ChainHouston, US

Chris Coxon(CEO)in

Co-investorsEnCap Energy Transition

Momentummidstreammomentummidstream.com

Momentum Midstream builds and operates critical midstream infrastructure for transporting oil and natural gas across major U.S. supply basins.

EnergyGulf Coast, US

Co-investorsEnCap Energy Transition

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

CardinalmpFrontier EnergyRangelandmidstream

Fund performance · per public LP disclosures · 6

as of Sep 2025
FundVintageCommittedNet IRRTVPIDPI
EnCap Flatrock Midstream Fund IV LPLPs: California State Teachers' Retirement System, Florida State Board of Administration, Maine Public Employees Retirement System +2 more2018—9.6%1.32x0.59x
Encap Flatrock Midstream IV L.P.LPs: Sacramento County Employees' Retirement System2018—8.0%1.25x0.49x
EnCap Flatrock Midstream Fund IV PELPs: Maine Public Employees Retirement System2017——1.12x0.21x
EnCap Flatrock Midstream Fund III LPLPs: California State Teachers' Retirement System, Florida State Board of Administration, Maine Public Employees Retirement System +5 more2014—9.6%1.41x1.20x
EnCap Flatrock Midstream Fund III PELPs: Maine Public Employees Retirement System2014—7.2%1.16x0.48x
Encap Flatrock Midstream IIILPs: Sacramento County Employees' Retirement System2014—9.6%1.41x0.99x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has EnCap Flatrock Midstream made?
EnCap Flatrock Midstream has 11 tracked investments.
What sectors does EnCap Flatrock Midstream focus on?
EnCap Flatrock Midstream focuses on Energy.
Where is EnCap Flatrock Midstream located?
EnCap Flatrock Midstream is headquartered in San Antonio, US.

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