Permian Capital LLC

Guy W. Adams and R. Todd Leland are the co-founders and managing partners. They lead all investment decisions, with a small internal team focused on energy and infrastructure sectors. The firm does not have an independent investment committee (per public records and firm communications).

Deal flow comes primarily from the founders' decades-long relationships with energy executives in Houston, midstream operators, and family-owned infrastructure businesses. The firm does not rely on external intermediaries or auction processes for the majority of its investments (per the firm's stated approach).

The firm focuses on direct investments in control and influential minority positions. It does not commit to external private equity funds as a limited partner (per public filings). Co-investments alongside specialized energy funds are a standard approach.

Permian Capital targets established operating assets in midstream, renewable energy, and transportation. It does not invest in venture-stage or early-stage companies. The firm looks for assets with long-life cash flows and operational improvement potential.

The firm avoids technology startups, real estate, financial services, and healthcare. It also stays away from upstream oil and gas exploration and production, focusing instead on midstream and infrastructure assets where it can add operational value.

Permian Capital is primarily a single family office for the Adams and Leland families. It has historically accepted co-investments from select family offices and institutions in specific vehicles, but it does not operate as a multi-family office or fund manager (per SEC filings).

The wealth originates from Guy W. Adams and R. Todd Leland's careers in energy-focused private equity, notably at EnCap Investments and other Texas-based firms. The firm was capitalized with personal funds and has grown through reinvested returns from energy infrastructure deals.