EIV Capital, LLC, a Texas limited liability company, is an SEC-registered investment
adviser with its principal place of business located in Houston, Texas. In business since
June 19, 2013, EIV is owned by Managing Partners, Patricia B. Melcher, and David J. P.
Finan, and Partners Gregory M. Davis, Jennifer B. Gottschalk, Claire R. Harvey and Gary
D. Levin. Except where otherwise noted herein, all references to “EIV”, the “Firm” or
“We” are intended to encompass EIV Capital, LLC, and its affiliates (including the general
partner entities defined below as “GPs”).
EIV provides investment management services to private equity investment funds
(including related alternative investment structures and co-investment vehicles) that make
private equity investments across the energy value chain (such funds, the “Funds” or “EIV
Capital Funds”). Investment advice is provided directly to the EIV Capital Funds and not
individually to the limited partners of the Funds. EIV aims to generate long-term capital
appreciation by providing capital to businesses involved in the processing, transportation,
storage, production, or conversion of oil, natural gas, refined products and renewable fuels.
EIV is led by an experienced team of investment professionals who, as investors, owners
and managers, have invested in, built and operated complex businesses involving all
aspects of the energy supply chain. The team’s collective experience in the energy industry
encompasses the exploration, development, production, transportation, processing and
trading of physical energy commodity products, including assessing and managing market
and operational risk. The senior investment team of EIV includes professionals with
backgrounds in private equity, private debt, investment banking and accounting including
designations such as Certified Public Accountant (CPA). EIV does not provide tax or legal
advice. Investors should consult with experts on matters pertaining to tax or legal matters.
FUNDS MANAGED:
EIV currently manages multiple private equity investment funds and co-investment
vehicles (collectively, the “Funds”). The general partners of the Funds, (collectively, the
“GPs”), engage EIV to manage the activities of the Funds, and are owned and controlled
by the principles and investment professionals of EIV. The GPs and the principals and
certain investment professionals of EIV generally participate in the fund’s investments by
investing assets either directly in the fund (via limited partner interests) or through the GPs.
FUND INVESTMENTS:
Investments made by the Funds are generally, but not exclusively, in businesses involved
in the processing, transportation, storage, or conversion of oil, natural gas, refined products
and renewable fuels. The core fixed assets of these companies will typically include
pipelines and transportation assets, terminals, processing facilities, power generation units,
storage, manufacturing or conversion facilities. The Funds’ equity investment and
commitments typically range from $50 to $150 million per transaction. Investment criteria
include, but are not limited to, strength of existing management, market growth potential,
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necessary capital requirements, contract coverage, leverage potential, competitiveness,
overall market size, economic prospects, and the ability to benefit from EIV’s involvement
with management.
Our specialization enables us to play a decisive role in portfolio company management and
operations while maintaining perspective on
valuations, financing parameters and exit /
liquidation potential. EIV personnel may serve on such portfolio companies' respective
board of directors (or equivalent governing body) or otherwise assist in the corporate
governance of the portfolio companies held by the Funds.
As noted above, certain Funds may also have related investment vehicles, including
alternative investment structures and co-investment vehicles. Subject to the terms of a
Fund’s governing documents, the GP of such Fund may in its sole discretion give certain
persons, including investors or third parties, an opportunity to co-invest in particular
portfolio investments alongside the Fund (either via one or more co-investment vehicles
sponsored by the GP (or an affiliate thereof) and/or directly). Co-investors may include
limited partners in the Funds, employees or affiliates of EIV, financing sources, portfolio
company management, and others. Co-investment vehicles will also share in any broken
deal fees or other transaction fees and expenses as applicable and outlined in the applicable
Fund governing documents. However, in the case of broken deal expenses, diligence and
pursuit expenses and other third party out of pocket expenses relating to a proposed co-
investment transaction where there are no contractually binding commitments from co-
investors (e.g., a co-investment vehicle has not been organized or prospective co-investors
have not otherwise agreed to bear any share of such expenses), the full amount of such
expenses will typically be borne by the pre-existing Fund or Funds selected by the GP(s)
for participation in such proposed co-investment transaction
.
ASSETS UNDER MANAGEMENT:
As of December 31, 2023, EIV had $2,356,409,664 of discretionary assets under
management. EIV does not currently manage any assets on a non-discretionary basis.
SIDE LETTERS:
EIV or the GPs, as appropriate, has and generally expects to modify certain terms of
investment for certain large or strategic investors, in side letters or otherwise, in its sole
discretion, relating but not necessarily limited to, co-investment opportunities, increased
fund and portfolio company transparency, reduced management fees or performance fees,
and more frequent or varied formats or modes of reporting. As a result of such rights,
limited partners in the same Fund are expected to experience different returns and have
access to information to which other limited partners do not have access. Generally, any
rights established, or any terms altered or supplemented, will govern only that investor and
not a Fund as a whole. However, certain additional rights have the effect of increasing the
expenses borne by the Fund or its limited partners not party to the particular side letter.
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IMPORTANT ADDITIONAL CONSIDERATIONS:
The information provided herein merely summarizes the detailed information provided in
the Funds’ offering and organizational documents. Current investors in the Funds and
prospective investors in future Funds should be aware of the substantial risks associated
with investment as well as the terms applicable to such investment. This and other detailed
information is provided in each respective fund’s offering and governing documents.
Limited partners in the Funds may not withdraw capital from the Funds except when
required as part of a distribution by such Funds, and as set forth in the Funds’ respective
offering and governing documents.