Five Point Infrastructure Extends San Mateo Midstream Ownership Through CV

Five Point Infrastructure LLC has closed a continuation vehicle that extends its ownership of San Mateo Midstream, LLC, a Delaware Basin midstream platform it formed with Matador Resources Company in 2017. San Mateo provides integrated gas processing, gathering and produced water services for Matador and other blue-chip producers across the basin. 

The business has scaled meaningfully since Five Point’s initial investment. Natural gas processing capacity has expanded to approximately 720 MMcf/d in 2025, while San Mateo now operates roughly 660 miles of three-stream pipelines and maintains about 475,000 barrels per day of water disposal capacity across southeastern New Mexico and West Texas. 

“Given the tremendous value Five Point and its LPs had already realized with San Mateo, as well as strong growth opportunities, we were well positioned to consider a host of options, including both a sale and continuation vehicle,” said David Capobianco, CEO and Managing Partner of Five Point. 

Five Point completed the capital raise for the continuation vehicle with lead commitments from North Hudson Resource Partners, LP, EOC Partners Advisors L.P., and Hamilton Lane, alongside additional institutional investors. In connection with the transaction, Five Point also secured additional unfunded capital commitments to invest in San Mateo’s expansion, with Matador continuing as a key partner in the next phase of growth. 

Headquartered in Houston, Texas, Five Point oversees approximately $7.2 billion of assets under management across multiple investment funds.  

Piper Sandler acted as financial advisor on the continuation vehicle, and DLA Piper served as legal advisor.