# Cypress Creek Private Strategies Master Fund, L.P.

Cypress Creek Private Strategies Master Fund, L.P. is a Generic based in Houston, United States.

## Overview

- **Organization type:** Generic
- **Headquarters:** Houston, United States
- **Region:** North America
- **Address:** Houston, TX, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

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. 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. 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.

## Sectors

- Private Equity
- Buyout
- Natural Resources

## People

- William P. Prather III — Founding Partner and Chief Investment Officer
- Richard Rincon — Founding Partner
- Benjamin Murray — Chief Operating Officer

## Questions

### What investment strategies does Cypress Creek Private Strategies Master Fund, L.P. target?

The fund targets buyout investments and natural resources / energy exposure. It does so through external manager selection rather than direct co-investments.

### Does Cypress Creek participate in fund commitments or only direct deals?

The firm primarily makes fund commitments to external private-equity managers. Its fund-of-funds structure means it allocates capital to other GPs rather than executing direct investments.

### What is Cypress Creek's known posture on co-investments alongside external GPs?

There is no public evidence that the firm engages in co-investments. Its stated strategy as a fund-of-funds manager revolves around manager selection and fund commitments.

## Related profiles

- [Children's Health System of Texas (CHST)](https://altss.com/profile/childrens-health-system-of-texas-chst)
- [Denton Independent School District](https://altss.com/profile/denton-independent-school-district)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/cypress-creek-private-strategies-master-fund-lp

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology