# EnCap Flatrock Midstream

EnCap Flatrock Midstream is an Asset Manager based in San Antonio, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** San Antonio, United States
- **Region:** North America
- **Address:** 1826 North Loop 1604 West, Suite 200, San Antonio, Texas 78248, United States
- **Founded:** 2008
- **Assets under management:** $9B–$15B (Altss estimate)
- **Website:** efmidstream.com
- **LinkedIn:** https://www.linkedin.com/company/encap-flatrock-midstream

## Regulatory record

- **CRD number:** 161237
- **SEC file number:** 802-74810
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/161237

## About

EnCap Flatrock Midstream is an exempt reporting adviser in San Antonio, TX, established in 2012. It since then.

## Sectors

- Energy Transition & Renewables
- Infrastructure

## Offices

- Houston, Texas, United States

## Questions

### Who runs investment decisions at EnCap Flatrock Midstream?

The firm is managed by its principals, a group drawn from the founding Flatrock Energy Advisors team and senior investment professionals. While specific named decision-makers are not publicly listed, the firm emphasizes a collaborative, team-based approach rooted in the decades of midstream experience its leadership accumulated prior to 2008. Ultimate investment authority resides with the partnership overseeing the EnCap Flatrock Midstream fund series.

### How does EnCap Flatrock Midstream source proprietary deal flow?

The firm relies on a deep network of industry contacts built over decades across the upstream, midstream, and downstream sectors. Its relationship-driven model means deals often come through repeat management teams and referrals from operators who have previously worked with the principals. The EnCap Investments platform, with over 350 institutional limited partners, also provides a broad origination funnel.

### Is EnCap Flatrock Midstream structured as a venture firm or an infrastructure fund?

It is a venture capital firm focused exclusively on midstream energy infrastructure. Unlike yield-oriented infrastructure funds that acquire operating assets, EFM takes minority and majority equity stakes in companies at the early stages of developing their business plans — often before major assets are built. It applies venture-style value-creation strategies to hard-asset businesses.

### Does EnCap Flatrock Midstream use leverage to fund its investments?

The firm takes a conservative approach to leverage, limiting its use to fund growth and advancing capital incrementally as each business plan de-risks. This philosophy prioritizes capital preservation and aligns with the risk-management principles the founders have applied for three decades (per the firm).

### Which sectors or asset types does EnCap Flatrock Midstream invest in?

EFM focuses on hard-asset midstream infrastructure, including gathering and transportation pipelines, treating and compression assets, processing and fractionation plants, storage and terminalling facilities, and logistics handling and disposal. Its scope covers both hydrocarbon and energy evolution-related infrastructure across North America.

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Last updated: 2026-08-14T12:30:00.000Z

Canonical page: https://altss.com/profile/encap-flatrock-midstream

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