Tailwater Capital LLC, an energy-focused private equity firm, has made in initial equity commitment of $100 million to The Woodlands, Texas-based TopSail Energy LP, a newly formed portfolio company that will primarily focus on purchasing and developing various refined products logistics and processing assets in North America.
Jim Lelio will serve as CEO. Lelio spent the past 15 years in senior roles at Kinder Morgan, and has over 21 years of midstream and downstream oil and gas experience. The management team includes Derrick Bockius, COO, and Jason Aguirre, director of business development. Over the past 10 years, Bockius has overseen construction and operations of several large midstream projects, including Kinder Morgan's transmix facility in St. Louis, Missouri; Kinder Morgan's condensate splitter facility in Galena Park, Texas; and Magellan Midstream's condensate splitter facility in Corpus Christi, Texas. Aguirre most recently served as a business development manager at Kinder Morgan, and has over eight years of oil and gas finance and accounting experience.
Dallas-based Tailwater Capital is a growth-oriented energy private equity firm focused on acquiring and growing midstream assets and participating in non-operated upstream opportunities in select basins. The firm has executed more than 35 energy transactions representing over $11 billion in transaction value. Tailwater currently manages over $1.6 billion in equity capital, over $700 million of which is available for new investments.