🦊/Investors

PEARL ENERGY INVESTMENTS

Private equity

Dallas · Growth–Late Stage · 16 people tracked

Also known as PEARL ENERGY INVESTMENT MANAGEMENT III, LLC · PEARL ENERGY INVESTMENT MANAGEMENT IV, LLC · PEARL ENERGY INVESTMENT MANAGEMENT, LLC

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2,773 people in our graph share verified history with the PEARL ENERGY INVESTMENTS team — schools, employers, funds. One of them is your warm intro.

David Phuunlockedknows Frank Opolski · together at PwC (overlapped)
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×4knows the team · via Goldman Sachs
knows the team · via Kelso & Company
knows the team · via Morgan Stanley
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Investment thesis

Pearl Energy Investments partners with proven management teams to invest in the North American energy sector. The firm typically pursues opportunities that require between $50 million and $150 million of equity capital, deploying its capital under management to back experienced operators in energy.

Source: firm website, verified Sep 15, 2026.

Stage
Growth–Late Stage
Check
$50M – $150M
HQ
Dallas, US
Instruments
Equity
Founded
2015
Last 12 months
1 investment
AUM
$3B
VC funds
4
Tracked investments
16
IPOs
1

Team · 16 people

from the firm's website & public directories
Chris A. Aulds· General Partner
William Quinn· General Partner

What they invest in

from 15 of 16 portfolio companies

Energy ×14Cleantech ×3Climate Tech ×2AI & Machine Learning ×1Enterprise Software ×1GovTech ×1IoT ×1SaaS ×1

HQs:United States×12Canada×2

Investments · 16 tracked

founders shown can be your intro path

By year:2026 · 12022 · 12017 · 13 dated

Infinity Natural Resourcesinfinitynaturalresources.cominNYSE: INRMar 2026✓ verified

Infinity Natural Resources is a privately held exploration and production company that develops unconventional oil and gas reserves in Ohio and Pennsylvania using advanced drilling techniques.

EnergyMorgantown, US

Ryan Warner, P.E.(Founder)inScott Gieselman(Director)Katherine Gallagher(Director)Sarah James(Director)Zack Arnold(President and Chief Executive Officer)Steven Gray(Director)

Board seatSteven CobbWilliam Quinn· per SEC Form D

Co-investorsNgp

Blackjacknrblackjacknr.com✓ verified

Blackjack Natural Resources acquires and develops oil and gas assets in the mid-continent region with a focus on capital efficiency and operational excellence.

EnergyOklahoma City, US

Grant(EVP, Operations)

Dragonfly Ogpdragonfly-ogp.com✓ verified

Dragonfly Oil & Gas Partners is an upstream oil and natural gas exploration and production company focused on acquiring and developing operated oil inventory in the Permian, MidCon, and South Texas regions.

Energy

Steven Mickey(Co-Founder and Co-CEO)John Fechtel(Co-Founder and Co-CEO)David DaGian(Co-Founder and Senior Vice President of Geosciences)

Em Epem-ep.com✓ verified

Eagle Mountain Energy Partners is a private exploration and production company that acquires and develops onshore oil and gas assets, primarily in Rocky Mountain basins.

EnergyHouston, US

Eric Pregler(Co-founder)Shaleen Patel(Co-founder)Michael DeKruif(Co-founder)Kyle Dubiel(Co-founder)

Slantenergyslantenergy.com✓ verified

Slant Energy is a private oil & gas exploration and production company that acquires, develops, and optimizes upstream assets across onshore basins in the United States.

EnergyLafayette, US

Tritonmidstreamtritonmidstream.com✓ verified

Triton Midstream develops and operates water midstream infrastructure for oilfield water management in the energy industry, serving oil and gas producers in the Permian Basin.

CleantechEnergy

Streamline Innovationsstreamlineinnovations.cominNov 2022

Streamline Innovations develops technologies that convert hydrogen sulfide and other pollutants from heavy industrial operations into inert, non-toxic products such as elemental sulfur fertilizer.

AI & Machine LearningCleantechClimate TechEnergyEnterprise SoftwareIoTSan Antonio, US

Gary Gill(Executive Officer)inWilliam Lemmer(Executive Officer, Director)David Sisk(Executive Officer, Director)

BoardRobert Raymond(Director)H.W. Cox, Jr. Ph.D.(Director)

Board seatSteven Cobb· per SEC Form D

Co-investorsCubit Capital

Coveecovee.ca

The company provides regulatory compliance reporting services, including ESTMA (Extractive Sector Transparency Measures Act) reporting and Modern Slavery Bill S211 reporting.

GovTechSaaSCalgary, CA

Permianrespermianres.comin

Permian Resources is an independent oil and natural gas company that acquires, optimizes and develops oil and liquids-rich natural gas assets.

EnergyMidland, US

Powderhorneppowderhornep.com

Powderhorn is an upstream oil and gas company that acquires and develops properties in the Permian Basin.

EnergyMidland, US

Jack Yates(Co-CEO)inPatrick Walter(Co-CEO)in

Spur Petroleumspurpetroleum.caApr 2017

Spur Petroleum Ltd. is a privately-owned oil and natural gas company with operations focused on the Clearwater oil play in northern Alberta.

EnergyCalgary, CA

Andrew Leuchter(Executive Officer)David O'Brien(Director)Greg Warner(Executive Officer)Matt Young(Executive Officer)Grant Zawalsky(Director)Ron Wigham(Director)

Co-investorsLongbow Capital

Sv Acsv-ac.com

Spring Valley is a Dallas-based asset management firm that operates a family of special-purpose acquisition vehicles formed to merge with or acquire businesses in the power infrastructure and decarbonization sectors.

CleantechClimate TechEnergyDallas, US

Chris Sorrells(CEO & Chairman)Jeff Schramm(CFO)Robert Kaplan(COO & Head of Business Development)

Swordfishenergyswordfishenergy.com

Swordfish Energy operates in upstream oil and gas, focusing on asset acquisition, development, and operations.

EnergyHouston, US

Marcos Briceno(Founder & CEO)Patrick Sherman(Founder & CFO)

Co-investorsEnCap Energy Transition

Voyagermidstreamvoyagermidstream.comin

Voyager Midstream operates natural gas infrastructure in the Haynesville region, providing gathering, processing, compression, and liquids fractionation services to energy producers.

EnergyEast Texas and Louisiana, US

William Harvey(Founder)in

Wildbasinenergywildbasinenergy.com

Wild Basin Energy acquires oil and gas mineral rights from mineral owners, using a technically-driven minerals evaluation to price offers and generate risk-adjusted returns for investors.

Energy

Blake Williams(CEO)Jacob Sexton(CFO)Debbie Brandes(VP of Reservoir Engineering)

Other

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

Caminoresources

Exits · 1

1 IPOs

Infinity Natural ResourcesNYSE: INR

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures

as of Dec 2025
FundVintageCommittedNet IRRTVPIDPI
Pearl Energy Investment IV, L.P.LPs: Texas Municipal Retirement System-21.9%0.88x

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).

IPO stake values · per SEC filings

Value of this firm's stake in each portfolio company at its IPO price, from the prospectus principal-stockholder table.

CompanyOwnedIPO priceAt IPOStake value
Infinity Natural Resources49.1%$20.00Feb 2025$577.9M

Source: SEC S-1 / 424B prospectus filings. Stake value = shares beneficially owned × the initial public offering price, as disclosed — a market value at IPO, not a return multiple (the firm's original cost is not disclosed).

Frequently asked questions

How many investments has PEARL ENERGY INVESTMENTS made?
PEARL ENERGY INVESTMENTS has 16 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
What stage does PEARL ENERGY INVESTMENTS invest at?
PEARL ENERGY INVESTMENTS invests at the Growth, Late Stage stages.
What is PEARL ENERGY INVESTMENTS's typical check size?
PEARL ENERGY INVESTMENTS typically writes checks of $50M – $150M.
What sectors does PEARL ENERGY INVESTMENTS focus on?
PEARL ENERGY INVESTMENTS focuses on Energy.
Where is PEARL ENERGY INVESTMENTS located?
PEARL ENERGY INVESTMENTS is headquartered in Dallas, US.

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