# Permian Capital LLC

Permian Capital LLC is a RIA based in San Francisco, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** Houston, Texas, United States
- **Founded:** 2000
- **Assets under management:** Undisclosed
- **Website:** permiancapital.com

## Regulatory record

- **CRD number:** 341549
- **SEC file number:** 802-135969
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/341549

## About

Perman Capital LLC is an exempt reporting adviser in San Francisco, CA. It is based there.

## Sectors

- Energy Transition & Renewables
- Infrastructure
- Private Equity
- Natural Resources
- Mobility & Transportation

## People

- Guy W. Adams — Founder and Managing Partner
- R. Todd Leland — Founder and Managing Partner

## Questions

### How does Permian Capital source deal flow?

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).

### Does Permian Capital invest in fund commitments or only direct deals?

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.

### What investment stages does Permian Capital target?

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.

### Which sectors does Permian Capital avoid?

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.

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

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