EIV Capital, a Houston-based private equity firm specializing in the energy industry, completed its $40 million investment to form Woodland Midstream LLC, an independent natural gas midstream company. The investment will fund the build-out and acquisition of natural gas pipeline and processing infrastructure throughout the eastern region of Texas and bordering states.
Woodland, based in The Woodlands, TX, is led by Richard Wright and Curtis Stevens. Prior to founding Woodland, Wright and Stevens worked together for over ten years at Azure Midstream and its predecessors; holding various roles including overall responsibility and leadership for business development and gas supply initiatives and the development and optimization of gathering, compression, treating and processing operations, respectively.
Founded in 2009, EIV Capital manages multiple funds and is currently investing out of its most recent fund, EIV Capital Fund II LP, consisting of approximately $270 million of commitments, which closed in December 2014.