EnCap Flatrock Midstream, a San Antonio, Texas-based firm focused on investing in midstream energy infrastructure businesses, has appointed veteran energy executive Gregory King as a senior adviser as it seeks to bolster its origination capabilities in the liquids segment of the energy industry.
For Encap Flatrock, a seven year old firm with offices in Oklahoma City and Houston that is presently investing its $3 billion EFM Fund III, a 2014-vintage, King's background adds additional origination firepower in a particular segment of the midstream energy market.
“Greg brings significant experience and contacts in the liquids side of our business,” Encap Flatrock founder and managing partner Bill Waldrip said in a statement.
The industrial consumption of hydrocarbon gas liquids is expected to increase by 35 percent from 2012 to 2025, according to the U.S. Energy Information Administration's latest annual energy outlook for 2015.
King, a former president of publicly traded refiner Valero Energy Corp. with more than 30 years of energy industry business experience, also brings several years of local private equity experience to his new role at EnCap Flatrock. In 2008, he founded diversified Texas investment firm GCK Ventures following his four-year stint as president of Valero Energy (King started working for Valero in 1993), where he stewarded its growth in North America. The San Antonio businessman also sits on the boards of QEP Midstream Partners, Philadelphia Energy Solutions and Jonah Energy.
EnCap Flatrock's three managing partners – William Waldrip, Dennis Jaggi and William Lemmons Jr. – oversee close to $6 billion worth of investments.