Tailwater Capital to invest $650M in midstream sector from new fund

Energy-focused private equity firm Tailwater Capital LLC has closed its third fund, Tailwater Energy Fund II LP (Fund II) at $650 million. Since launching in 2013, Dallas, TX-based Tailwater has raised more than $1.4 billion across three funds, Tailwater Energy Fund I, Tailwater E&P Opportunity Fund and the recently closed Fund II. The team plans to invest Fund II in various midstream projects.

Capstone Partners LP served as the placement agent for Fund II and Weil, Gotshal & Manges LLC provided legal counsel.

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