What stage does Tailwater Capital invest at?

Tailwater Capital invests at the Growth stage.

What sectors does Tailwater Capital focus on?

Tailwater Capital focuses on Energy.

Where is Tailwater Capital located?

Tailwater Capital is headquartered in Dallas, US.

Tailwater Capital

Private equity

Dallas · Growth · 2 people tracked

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Investment thesis

Tailwater E&P invests in upstream oil and gas assets across the Lower 48, focusing on minerals, royalties, non-operated, and operated positions. It emphasizes core basins including the Permian, Eagle Ford, Haynesville, and Williston, using a data-first approach and proprietary technology to underwrite and acquire assets. The team backs proven operators and seeks to fill a gap created by underinvestment and limited capital availability in U.S. energy, delivering long-term value through market cycles while helping meet U.S. energy needs safely and reliably.

Invests inEnergyDallasUnited States

Source: firm website, verified Aug 6, 2026.

Stage

Growth

Dallas, US

Instruments

Equity

Founded

2013

AUM

$6.2B

Tracked investments

Team · 2 people

from the firm's website

Lindel Larison· Operations Executive, Tailwater Innovation Partners

Energy industry executive with over two decades of experience across petrochemical, upstream, and midstream sectors. Co-founder and former COO of Tall Oak Midstream, previously held engineering and construction leadership roles at Chesapeake Energy and began his career as a process engineer at Chevron Phillips Chemical.

Roger Fox· Head of Responsible Investment, Tailwater Capital and CEO, Tailwater Innovation Partners

Roger Fox has over 40 years of experience in the energy industry across upstream, midstream, LNG, and power generation. He joined Tailwater Capital in 2021 as Head of Responsible Investment and CEO of Tailwater Innovation Partners, having previously served as CEO of Elevate Midstream Partners and held senior roles at Eagle Rock Energy Partners, TGGT, Karachaganak Petroleum, Egyptian LNG, and BG Group.

Investments · 28 tracked

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Align Midstream Partners

Align Midstream Partners Ii

Ash Creek Renewables

Blackbrush Texstar

Blue Tide

Central Midstream

Continuus Materials

Copperbeck Energy Partners

Cureton Midstream

E2 Energy Services

Elevate Midstream Partners Ii

Freestone Acquisition Corp

Frontier Infrastructur Holdings

Goodnight Midstream

Momentum Technologies

Nortex

Petrowaste Environmental

Producers Midstream

Regency Energy Partners

Renovo Resources

Silver Creek Midstream

Southcross Energy

Tailwaterep

Tall Oak Midstream

Textar Midstream Logistics

Triten Energy Partners

Verdad Resources

Wtg Energy

Fund performance · per public LP disclosures · 2

as of Dec 2024

Fund	Vintage	Committed	Net IRR	TVPI	DPI
Tailwater Energy Fund IV, L.P.LPs: Sacramento County Employees' Retirement System, Baltimore City Employees' Retirement System, Robert Wood Johnson Foundation	2020	—	17.5%	1.53x	0.51x
Tailwater Energy Fund III LPLPs: Sacramento County Employees' Retirement System, Robert Wood Johnson Foundation	2017	—	1.4%	1.06x	0.50x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What stage does Tailwater Capital invest at?: Tailwater Capital invests at the Growth stage.
What sectors does Tailwater Capital focus on?: Tailwater Capital focuses on Energy.
Where is Tailwater Capital located?: Tailwater Capital is headquartered in Dallas, US.