Grey Rock Energy Partners (Grey Rock) has held its first and only close of Grey Rock Energy Fund III (Fund III) which was oversubscribed with USD232.5 million in capital commitments.
The entirety of Fund III was raised through institutional investors; the majority are repeat investors who participated in prior Grey Rock funds.
Grey Rock is a Dallas-based private equity firm with more than USD450 million of assets and committed capital under management. The company acquires non-operated working interests in core unconventional basins, either by acquiring non-op directly from current owners, or by providing joint venture capital to operators. Grey Rock has interests in more than 2,000 wells in core areas of the Permian Basin, Bakken, Eagle Ford, SCOOP, and Haynesville plays.
“We are so appreciative for the continued support and confidence of our investors. With their strong institutional backing, Grey Rock is well positioned to deliver healthy, risk-adjusted returns in an underserved area of the oil and gas market,” says Grey Rock Managing Director Matt Miller. “Grey Rock has assembled a savvy team with deep operational expertise, positioning us as a world-class partner for operators and a preferential counterparty for sellers. We are excited about the opportunities that we see going forward in the energy industry.”
The Grey Rock leadership team has a broad range of skills and expertise in the energy industry and has a proven track record of success in identifying and developing strategic investments. The Grey Rock executive team is comprised of three founding Managing Directors: Kirk Lazarine, Matt Miller, and Griffin Perry. Scott Eads serves as Partner-Engineering, Thad Darden as Partner-Investments, Eric Holley as Vice President-Accounting and Finance, and Adam Griffin as Vice President-Land. Leadership bios can be found here.
Thompson & Knight LLP served as formation counsel for Fund III. Grey Rock did not engage a placement agent in connection with the formation of Fund III.
