Overview
Description of Advisory Firm
Yaupon is an investment adviser with its principal place of business in New York, New York. The Investment
Manager is a limited partnership formed in February 2018 under the laws of the State of Delaware. Steve
Pattyn is the founder and Chief Investment Officer (“CIO”).
Yaupon offers investment advisory services to private funds (referred to collectively herein as the “Funds,”
and the “Clients” that are intended only for sophisticated investors. Currently, the Funds consist of:
• Yaupon Fund LP, a Delaware limited partnership (“Domestic Fund”);
• Yaupon Funds (CI) Ltd., a Cayman Islands exempted limited partnership (“Offshore Fund”); and
• Yaupon Master Fund LP, a Cayman Islands exempted limited partnership (the “Master Fund”),
which serves as the master fund into which the Domestic Fund and Offshore Fund invest
substantially all of their assets.
The Domestic Fund and Offshore Fund may make some investments directly (instead of through the Master
Fund) in certain entities or other assets (e.g., master limited partnerships) in the energy and related sectors,
although such investments are not expected to exceed 20% of the Domestic Fund or Offshore Fund’s net
assets (measured at the time of investment).
The Funds are managed according to the investment objectives and strategies outlined in each Fund’s
Confidential Private Placement Memorandum and other governing and offering documents (for each Fund,
the “Fund Documents”) and are generally
not tailored to any particular private Investor in the Funds (each,
an “Investor”).
Yaupon Capital GP LLC, (“Yaupon Capital GP” or the “General Partner”), a Delaware limited liability
company, is the general partner of the Domestic Fund and the Master Fund. Steve Pattyn is the managing
member of Yaupon Capital GP.
As of December 31, 2023, the Investment Manager managed approximately $2,317,403,000 of regulatory
assets under management on a discretionary basis.
Further, the Investment Manager may, from time to time, permit certain individuals and/or entities to co-
invest alongside the Funds and/or other Clients. Such individuals and/or entities may be affiliated with the
Investment Manager and/or the General Partner. The decision as to whether to make co-investments and
to whom such co-investment opportunities are offered is made by the Investment Manager in its sole
discretion, and Investors may not have a right to participate in co-investments. Co-investments may result
in the investment in, or the disposal of, shares of a particular investment by co-investors at the same time
or on the same terms as the Funds and/or other Clients. Notwithstanding the foregoing, to the extent
employees of the Investment Manager are permitted to participate in co-investments, co-investment
opportunities are only offered to employees after the Funds and other Clients have received their target
investment allocations. Co-investors generally bear their pro rata portion of the expenses related to the co-
investment.