Grey Rock Energy Management, LLC

Grey Rock Energy Management, LLC is a Dallas-based investment adviser registered with the SEC since 2013. The firm specializes in providing discretionary investment advisory services to investment funds focused on diversified non-operated oil and gas assets in North America. The firm is managed by Thad Darden, Matt Miller, and Eric Holley. Grey Rock manages over $357 million in regulatory assets under management as of December 31, 2024. The firm's fee structure includes management fees based on a percentage of capital commitments and carried interest distributions. Grey Rock emphasizes best execution in brokerage practices and does not engage in soft dollar arrangements. The firm exercises investment discretion over the Funds, with the General Partners having authority over the investment activities. Grey Rock has custody over the Funds' assets, maintains an independent qualified custodian, and provides audited financial statements to investors. The firm also exercises voting authority over client securities and has policies to ensure voting in the best interests of the Funds. Grey Rock has no disciplinary events in the past 10 years and has not engaged placement agents for client referrals. The firm's financial condition is stable, with no bankruptcy filings or expected financial issues affecting its management capabilities.