Tailwater Capital LLC, a Dallas-based energy-focused private equity firm, closed its fourth fund, at $218m.
Tailwater E&P Opportunity Fund II LP will invest behind E&P operators in non-operated working interest investment opportunities within the “core” of the country’s premier basins.
Launched in 2013 by founding partners Edward Herring and Jason Downie, Tailwater focused on acquiring and growing midstream assets as well as participating in non-operated upstream opportunities in select basins.
The firm manages $1.7 billion across four funds, Tailwater Energy Fund I and II, Tailwater E&P Opportunity Fund I and Fund II, over $700m of which is available for new investments.
To date, Tailwater has to date executed more than 35 energy transactions representing over $11 billion in transaction value.