In just a few weeks, D CEO will reveal the winners of its eighth annual Energy Awards, honoring the leaders and innovators shaping one of Texas’ most critical industries. This year’s 34 finalists are transforming traditional oil and gas, advancing renewables, and driving progress across the broader energy landscape.
As we count down to the big night, we’re spotlighting each category and the standout companies and executives behind the nominations. Up next: the finalists for Private Equity Firm of the Year—four firms whose capital strategies and vision are fueling growth and innovation across the sector.
Augusta Capital Partners, led by Chase Bentley
Founded in Dallas by Chase Bentley, Augusta Capital Partners has a strong recent track record. In 2023, the firm secured multiple private stock allocations in SpaceX and xAI, completing three rounds in SpaceX and expanding its position in xAI—the firm’s positions are up 215 percent year-over-year. Augusta has since gained access to OpenAI private issuances. In early 2025, the firm launched its third fund, a $350 million vehicle focused on land acquisition and data center infrastructure tied to AI-driven demand. The strategy centers on the Texas Triangle, requiring permitting, grid analysis, and site selection with regional consultants and engineers. Looking ahead, Bentley believes there’s a huge opportunity to bring the energy sector together. “Breakthroughs in nuclear, water processing, and hydrocarbon fractionation are happening in real time, yet too often, these advances exist in silos,” he says. “The political landscape only adds complexity, with shifting priorities, subsidies, and regulatory signals. Without a unified vision, the industry risks undermining itself. Even if the chosen path forward isn’t perfect, moving in the same direction toward a shared goal will drive far greater progress—for the sector and for the public it serves.”
NGP, led by Chris Carter
Over the past year, Dallas-based NGP has backed several major energy and infrastructure platforms, expanding its reach in royalties, infrastructure, and next-generation energy technologies. In October 2024, portfolio company Form Energy raised $405 million in a Series F round to scale its iron-air battery technology. In March 2025, NGP launched Elk Range Royalties III with the acquisition of 250,000 net royalty acres in Colorado’s DJ Basin for $905 million. That same month, NGP committed new equity to Mesa Minerals Partners to form Mesa Royalties IV, focused on Haynesville and Permian Basin royalty assets. In April, NGP formed Mora Energy, supported by more than $250 million in initial equity, and sponsored Wing Resources VIII with $100 million in commitments. In May, NGP helped form Greenlake Energy II, an E&P platform capitalized with more than $200 million.
Cresta Fund Management, led by Chris Rozzell
Dallas-based Cresta Fund Management, led by Managing Partner Chris Rozzell, manages approximately $1.6 billion in assets with a focus on energy transition and decarbonization infrastructure. Over the past 18 months, Cresta has expanded Lapis Carbon Solutions by launching a carbon utilization business line to supply captured CO₂ to end users. The firm advanced Texas GulfLink by securing a record of decision from the U.S. Maritime Administration for a deepwater crude export terminal. Cresta also invested in Ocean Pacific to develop compressed natural gas and clean fuel stations; achieved commercial operations at five LF Bioenergy RNG plants with two more under construction; and brought Braya Renewable Fuels’ refinery in Newfoundland and Labrador online. In addition, Cresta sold Easton Energy’s Gulf Coast Liquids Pipeline System to ONEOK for $280 million and advanced fundraising for its second sustainability-focused fund, targeting $400 million for low-carbon infrastructure.
BP Energy Partners, led by Alex Szewczyk
Over the past 12 months, Dallas-based BP Energy Partners—founded in 2012 with support from the late T. Boone Pickens—has advanced practical decarbonization through various investments and exits. In January 2025, the firm led a $65 million growth investment in Smart Wires, a power‑flow control technology provider that increases grid capacity without traditional transformer upgrades. In October 2024, BP Energy closed its first Fund III investment in Novitech—a company specializing in inline pipeline inspection technology that detects flaws in liquid and gas pipelines in a single run. Earlier, in September 2024, BP Energy exited Miratech—a supplier of noise‑ and emission‑reducing equipment—to TPG. Most recently, in August 2025, BP Energy facilitated Catalyst Power’s acquisition of a 4.5 MW cogeneration portfolio. The move expanded Catalyst’s footprint in the Northeast and enhancing efficiency through heat‑and‑power integration
Author
Ben Swanger is the managing editor for D CEO, the business title for D Magazine. Ben manages the award-winning publication Dallas 500 and is the creator of The City of Champions, a special edition magazine detailing how North Texas became the sports business capital of the world. He’s written about how the Adelson family gained control of the Mavs, how de-extinction company Colossal became Texas’ first $10 billion private startup, and how Bell won a $100 billion U.S. Army contract. When he’s not writing, he’s probably busy working on his golf swing.
