WaterBridge Holdings has raised $345 million of equity capital through the issuance of $195 million of common equity to funds affiliated with Five Point Energy, an affiliate of GIC, and WaterBridge management, as well as $150 million of preferred equity to Magnetar Capital, a leading alternative asset manager.
Proceeds will be used to fund acquisitions of produced water infrastructure from Primexx Energy Partners, Tall City Exploration III and Jetta Permian, as well as organic growth projects in the Southern Delaware Basin. In addition, WaterBridge has the ability to issue, and Magnetar Capital has the right to acquire, an additional $100 million of preferred equity to fund future growth.
“Our ability to raise attractive capital in a challenging market is a clear reflection of our team’s success in building the premier produced water handling network in one of the most economic and de-risked basins available to producers,” said David Capobianco, CEO and managing
