i.
Digital infrastructure
Data centers, fiber, wireless, transmission. The networks the rest of the economy now runs on.
Scaling hard-asset companies
The HALO Thesis
Hard Assets, Low Obsolescence
Two convictions about what Crosstimbers underwrites. Together they spell HALO, the asset-selection thesis informing every investment the firm makes.
Hard assets. Platforms whose value is anchored in tangible collateral: pipes, fiber, plants, panels, trailers, towers.
Low obsolescence. Long-lived infrastructure the economy still needs in twenty years. Assets that earn through cycles, not technology bets that may be displaced.
Formation Stage
Where HALO compounds best
Crosstimbers invests at the formation-stage of scalable, hard-asset companies. The lowest cost basis, the steepest value creation curve, and the broadest control over how the platform gets built all sit at the moment of creation.
Large infrastructure funds are not designed to write small checks or start new businesses. Venture capital avoids hard assets. And private equity needs current cash flow to underwrite and lever. Crosstimbers operates in the gap those constraints create.
Built from the ground up
Crosstimbers, by the numbers
HALO
20+ yrs
Average expected useful life of the assets the firm underwrites.
Platforms
12
Built with operating partners since inception.
Vintage
2009
First execution of this strategy. As Crosstimbers since 2016.
A pairing most firms keep separate
We partner with operators to start and scale HALO businesses. Our strategy combines early-stage, control investing with real asset ownership, a pairing most private capital firms keep separate. We have executed this approach since 2009, first as a family office and as Crosstimbers since 2016.
Every investment in the firm's history has been privately negotiated. We do not bid in banked auctions.
Read the full approachSectors
Four corners of the physical economy
Crosstimbers builds the hard-asset businesses that deliver the goods and services essential to prosperity. Historically, we've focused on digital infrastructure, water, power, and transportation.
ii.
Water Infrastructure
Treatment, distribution, and storage systems. Utility-like cash flows backed by long-term agreements.
iii.
Power
Generation, transmission, and storage assets. Distributed energy and commercial-scale platforms.
iv.
Transportation
Logistics, mobility, freight, and cargo infrastructure. Hard assets with diversified counterparty exposure.
Portfolio Preview
A portfolio built one platform at a time
Each investment is built alongside an operator the firm trusts.
Tachus
Acquired by Ezee Fiber, September 2025
Fiber-to-the-home broadband serving north Houston. Acquired by Ezee Fiber in September 2025.
More on Tachus
Boxwheel
Continuation Vehicle active
Specialty trailer leasing platform operating a fleet of nearly 10,000 trailers across the United States.
More on Boxwheel
Gateway Fiber
Acquired by CBRE, February 2023
Fiber-to-the-home broadband network in St. Louis. Acquired by CBRE in February 2023.
More on Gateway Fiber
Maverick
Acquired by Apollo Funds, August 2026
Alternative water systems serving large residential developments. Acquired by Apollo Funds in August 2026.
More on MaverickFrom the newsroom
Notes on hard assets and the physical economy
The Infrastructure Moment
Two recent reports shine a spotlight on the evolving investment opportunity in infrastructure.
Read articleAmerica's Infrastructure Report Card
The American Society of Civil Engineers gives the country a “C.” We think it can do better, and we are building toward it.
Read articleLarry Fink's $68 Trillion Forecast
A look at how Crosstimbers is positioned for the capital supercycle BlackRock is forecasting. We identify which segments of it are most investable.
Read articleBuilding a hard-asset business?
We make formation-stage investments alongside operators starting and scaling hard-asset platforms. If that is you, or you are an investor doing diligence on us, we'd like to hear from you.
Get in touch