![]() ![]() Since Tailwater's inception in 2013, it has raised more than 3.7 billion. Thompson & Knight LLP provided legal counsel for Tailwater’s fourth fund. Tailwater is led by founding partners Jason Downie and Edward Herring, who have worked together for over two decades. ![]() The firm’s prior fund closed in July 2018 with total commitments of $1 billion, including a co-investment for a platform company in the fund, and has committed capital to six platform companies. To date, Fund IV has committed to several new platform companies. “Having invested through multiple cycles, we are confident private equity will play a critical role in solving the prevailing capital constraints of the energy industry,” he said. Through the fund, Tailwater plans to continue its strategy of partnering with proven management teams to identify attractive opportunities in midstream infrastructure, according to the firm’s release.Ĭommenting on the current state of the oil market, Downie noted he expects to see “some of the most compelling buying opportunities” in many years. “Raising our largest fund to date in today's energy environment is a testament to the strength of the Tailwater team and the longstanding trust our investors have placed in us to continue identifying attractive opportunities in the midstream sector,” Herring said in a statement. The team, led by founding partners Jason Downie and Edward Herring, has executed more than 100 energy transactions in the upstream and midstream sectors representing over $20 billion in transaction value. Prior to Tailwater Innovation Partners, Fox was the CEO of Elevate Midstream Partners I and II, both of which were. Since the firm’s inception in 2013, Tailwater has raised more than $3.7 billion across its funds. Fox is also serving as head of ESG at Tailwater Capital. Tailwater Capital LLC closed its fourth fund with $1.1 billion in total commitments-making it Tailwater’s largest fund to date, the Dallas-based private equity firm said in a March 26 release. Rocketreach finds email, phone & social media for 450M+ professionals.
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