CRESTA FUND MANAGEMENT LLC other names

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Adviser Profile

As of Date:

05/06/2024

Adviser Type:

- Large advisory firm


Number of Employees:

18

of those in investment advisory functions:

9 -25.00%


Registration:

SEC, Approved, 7/24/2019

Other registrations (1)
Former registrations

CRESTA ENERGY CAPITAL

AUM:

1,602,244,828 11.66%

of that, discretionary:

1,602,244,828 11.66%

Private Fund GAV:

1,534,845,994 18.88%

Avg Account Size:

94,249,696 5.09%


SMA’s:

NO

Private Funds:

17 1

Contact Info

214 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
1B 1B 1B 820M 615M 410M 205M
2019 2020 2021 2022 2023

Recent News

Biden's climate deputy has fossil fuel ties
03/22/2021

Zaidi also did legal work for Callon Petroleum Co. and Midstates Petroleum Company Inc. as well as energy private equity firms Cresta Energy Fund Management and Energy Capital Partners ...

eenews.net

Biden's climate deputy has fossil fuel ties
03/22/2021

Ali Zaidi, one of President Biden's top climate aides, did legal work for a number of fossil fuel energy companies.

eenews.net


Private Funds Structure

Fund Type Count GAV
Private Equity Fund 17 $1,534,845,994

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Private Funds



Employees




Brochure Summary

Overview

The Adviser is an investment advisory firm located in Dallas, Texas that commenced business in December 2016. The Adviser is an investment manager that funds specialized middle market infrastructure opportunities. Cresta Fund Management LP, a Delaware limited partnership, which is ultimately beneficially owned and controlled by Christopher D. Rozzell, James Andrew (“Drew”) Armstrong, and David T. Miller (the “Principals”), directly or indirectly owns 100% of the Adviser. The Principals are also the control persons of the Adviser. The Adviser provides investment advisory and management services to multiple privately offered closed-end pooled investment vehicles (each a “Fund” or “Client” and, collectively, the “Funds” or the “Clients”). The general partner or equivalent of each Fund will be an affiliate of the Adviser (each a “General Partner” and collectively with any future affiliated general partner entities, the “General Partners”). The Governing Documents (as defined below) of each Client may also provide for the establishment of parallel or other alternative investment vehicles in certain circumstances. Client investors may participate in such vehicles for the purposes of certain investments. In this Brochure, because it is uncertain whether such additional parallel or alternative investment vehicles will be classified as clients of the Adviser, when we refer to a Fund or Client, we are also referring to such additional parallel or alternative investment vehicles, if any. The Adviser provides investment advisory services to its Clients primarily in respect of growth- oriented, middle market-focused sustainable and conventional energy, industrial, materials, and agricultural infrastructure investments (each investment within a strategy a “Portfolio Investment” or “Portfolio Company” and collectively, the “Portfolio Investments” or “Portfolio Companies”). Each Client’s portfolio is managed pursuant to an investment management agreement with the Client, an agreement of limited partnership or similar governing document, any investment guidelines attached thereto, the Client’s investment policy, and/or other governing documentation that may be entered into, and any applicable regulations (collectively, the “Governing Documents”). While it is anticipated that each of its Clients will follow the strategy stated above, the Adviser may tailor the specific advisory services with respect to each Client to the individual investment strategy of that Client. Investors in the Funds (generally referred to herein as “investors” or “limited partners”) participate in the overall investment program for the applicable Fund, but in certain circumstances are excused from a particular investment due to legal, regulatory or other agreed-upon circumstances pursuant to the Governing Documents; for
the avoidance of doubt, such arrangements generally do not and will not create an adviser-client relationship between the Adviser and any investor. The Funds or the General Partners may enter into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic or other terms) of, the Governing Documents with respect to such investors. Additionally, as permitted by the Governing Documents, the Adviser expects to provide (or agree to provide) investment or co-investment opportunities (including the opportunity to participate in co- invest vehicles) to certain current or prospective investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, Portfolio Company management or personnel, the Adviser’s personnel and/or certain other persons associated with the Adviser and/or its affiliates. Such co-investments frequently involve investment and disposal of interests in the applicable Portfolio Company at the same time and on the same terms as the Fund making the investment. However, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund) invests in a Portfolio Company or purchases a portion of an investment from one or more Funds after such Funds have consummated their investment in the Portfolio Company (also known as a post-closing sell-down or transfer) through syndications to co-invest vehicles or other Cresta Funds at net asset value, not at cost. Such post-closing sell-downs or transfers generally will have been funded through Fund investor capital contributions and/or use of a Fund credit facility. Any such purchase from a Fund by a co-investor or co-invest vehicle can occur shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment, but in certain instances could be well after the Fund’s initial purchase. Where appropriate, and in the Adviser’s sole discretion, the Adviser reserves the right to charge interest on the purchase to the co-investor or co- invest vehicle (or otherwise equitably to adjust the purchase price under certain conditions), and to seek reimbursement (including charges or reimbursements required pursuant to applicable law) to the relevant Fund for related costs . However, to the extent any such amounts are not so charged or reimbursed, they generally will be borne by the relevant Fund. The Adviser does not participate in wrap fee programs. As of December 31, 2023, the Adviser had approximately $1,602,244,828.00 in regulatory assets under management, all of which are managed on a discretionary basis. For purposes of calculating this amount, the Adviser includes unfunded capital commitments.