Cypress Creek Private Strategies Master Fund, L.P.

Cypress Creek Private Strategies Master Fund, L.P.

Cypress Creek Private Strategies Master Fund, L.P. traces its origins to the founding of Cypress Creek Partners by William P. Prather III and Richard Rincon. Rincon previously served as a Senior Director at the University of Texas Investment Management Company (UTIMCO), a large institutional asset manager. The fund was formerly known as the Salient Private Access Master Fund, L.P., indicating a prior relationship with Salient Partners. The firm operates as a fund-of-funds manager concentrating on buyout strategies and natural resources and energy exposure. Its investment approach relies on sourcing and monitoring external private-equity managers rather than executing direct deals. The firm’s geographic focus appears to be domestic, centered on the U.S. energy sector and buyout stage. Cypress Creek Partners also serves as a manager or advisor to the Los Angeles County Employees Retirement Association (LACERA) for private-market initiatives, a recurring institutional relationship. The operating team includes three named professionals: Prather, Rincon, and COO Benjamin Murray. No AUM or deployment figures are publicly disclosed. The firm’s structural differentiator lies in its hybrid model: it manages a commingled fund-of-funds vehicle while simultaneously acting as a discretionary advisor to a large public pension (LACERA). This dual role—raising capital from a broad investor base in the master fund and serving a single institutional client on separate mandates—sets it apart from pure fund-of-funds managers.