Five Point Strengthens San Mateo Midstream Platform to Support Next Phase of Growth and Value Creation
Five Point Infrastructure LLC ("Five Point"), a leading private equity firm focused on energy infrastructure investments, today announced the successful close of a continuation vehicle that extends its ownership of San Mateo Midstream, LLC ("San Mateo"), a pure-play Delaware Basin midstream platform, and joint venture with Matador Resources Company ("Matador").
The CV, one of the largest in the midstream energy space, enables existing investors to crystallize a strong financial return, while allowing Five Point to continue expanding the platform's growth trajectory for the benefit of all stakeholders.
San Mateo, formed by Five Point and Matador in 2017, is a leading midstream provider of integrated gas processing, gathering and produced water services for Matador and other blue-chip producers across the Delaware Basin – one of the most active regions for oil and natural gas exploration and development in the United States. The platform has grown significantly since Five Point's initial investment, including expansion of natural gas processing capacity to approximately 720 MMcf/d in 2025. San Mateo currently operates approximately 660 miles of three-stream pipelines and maintains approximately 475,000 barrels per day of water disposal capacity across southeastern New Mexico and West Texas.
"Since 2017, we've worked alongside Matador to build San Mateo into a scaled and strategically critical midstream platform in the Delaware Basin and we're very proud of the company we've built," said David Capobianco, CEO and Managing Partner of Five Point. "Given the tremendous value Five Point and its LPs had already realized with San Mateo, as well as strong growth opportunities, we were well positioned to consider a host of options, including both a sale and continuation vehicle. We look forward to continued investment and expansion of San Mateo."
Five Point completed the capital raise for the continuation vehicle with lead commitments from North Hudson Resource Partners, LP, EOC Partners Advisors L.P., and Hamilton Lane, alongside additional institutional investors. In connection with the transaction, Five Point also secured additional unfunded capital commitments to invest in the expansion of San Mateo. Matador will continue to serve as a key partner in the next phase of growth.
Piper Sandler acted as the financial advisor to Five Point on the continuation vehicle and DLA Piper served as legal advisor.
About San Mateo Midstream
San Mateo Midstream, LLC is a strategic midstream joint venture between Matador Resources Company (NYSE:MTDR) and Five Point Infrastructure LLC that provides integrated midstream services in the Delaware Basin. The system delivers natural gas gathering and processing, oil gathering and transportation, and produced water gathering and disposal services across southeastern New Mexico and West Texas.
About Five Point Infrastructure
Five Point Infrastructure LLC is a private equity and infrastructure investor focused on investments within the North American water management, surface management, powered land, and sustainable infrastructure sectors. The firm was founded by industry veterans with demonstrated records of success investing in, building, and running infrastructure companies. Headquartered in Houston, Texas, Five Point has approximately $7.2 billion of assets under management across multiple investment funds. For more information, please visit www.fpinfra.com.
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