# Grey Rock Investment Partners

Grey Rock Investment Partners is an Asset Manager based in Dallas, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Dallas, United States
- **Region:** North America
- **Address:** Dallas, TX, United States
- **Founded:** 2013
- **Assets under management:** Undisclosed
- **Website:** www.grey-rock.com
- **LinkedIn:** https://www.linkedin.com/company/grey-rock-investment-partners

## Regulatory record

- **Reports private funds:** No

## About

Grey Rock Investment Partners builds investment portfolios for partners with optimized risk-reward balances. It focuses on lower and mid-market non-operated working interests in natural resources and on net zero opportunities in the energy transition, including carbon capture, industrial decarbonization, and methane abatement. The firm integrates ESG considerations into business decisions and is led by managing directors Matt Miller and Thad Darden.

## Sectors

- Energy Transition & Renewables
- Real Estate
- Infrastructure

## People

- Matt Miller — Co-Founder & Managing Partner
- Kirk Lazarine — Co-Founder & Managing Partner

## Questions

### Does Grey Rock operate as a blind-pool fund or deal-by-deal sponsor?

Grey Rock structures investments on a deal-by-deal basis, forming special-purpose vehicles for each acquisition or drilling program. Limited partners review and approve each investment individually, which gives them direct control over asset-level exposure to specific wells, mineral positions, or infrastructure assets rather than committing capital to a multi-year commingled fund.

### Which North American basins does Grey Rock target?

The firm focuses on the Permian Basin, Eagle Ford, and Midcontinent region, though its specific project footprint varies with operator relationships and commodity-cycle conditions. These basins represent mature, producing zones where working-interest acquisitions and royalty purchases can be priced against existing production data rather than exploration risk.

### How is Grey Rock different from a traditional energy private-equity fund?

The firm's deal-by-deal structure means it does not raise blind-pool funds with fixed investment periods or target sizes, which shifts governance toward limited partners who approve each investment individually. Its two-founder partnership has remained stable without external institutional capital, keeping Grey Rock outside the traditional private-equity cycle of fund vintages and return-reporting benchmarks.

## Related profiles

- [Greyrock Capital Group](https://altss.com/profile/greyrock-capital-group)
- [Grey Silo Ventures](https://altss.com/profile/grey-silo-ventures)

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Last updated: 2026-08-11T15:06:57.816Z

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