“Thompson & Knight Steers Closing Of Tailwater’s $1B Fund”
Dallas-based, energy-focused private equity firm Tailwater Capital LLC on Wednesday said it has closed its latest fund with total commitments of $1 billion, which was guided by Thompson & Knight LLP.
The firm closed Tailwater Energy Fund III LP at its hard cap of $900 million and also raised a $100 million co-investment for a platform company within the fund. The fund received contributions from new and existing investors and will seek to continue the strategy of partnering with proven management teams to invest in the midstream value chain. The fund will also target nonoperated upstream opportunities in select basins.