Infrastructure
Tailwater Capital
Tailwater Capital invests in long-life infrastructure and essential assets, from Dallas, TX. It states a focus on energy & utilities.
Stated investment criteria
What Tailwater Capital says it buys
Read from Tailwater Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.
A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Tailwater Capital to consider any particular business, and nothing on this page is represented as being for sale.
Regulatory record
How Tailwater Capital is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | SEC registered |
| Regulatory assets under management | $4.0bn |
| Employees | 46 |
| Private funds advised | 19 · $4.2bn gross |
| SEC adviser number | CRD 167240 |
Recorded transactions
Buying and selling
Deals in which Tailwater Capital is named as buyer or seller in the transaction archive. 3 recorded exits, most recently in 2024.
| Company | Side | Counterparty | Year | Consideration |
|---|---|---|---|---|
| Tall Oak Midstream III | Sold | Summit Midstream | 2024 | $155m |
| NorTex Midstream Partners | Sold | Williams | 2022 | $423m |
| Align Midstream | Sold | Enable Midstream Partners | 2017 | $300m |
Compiled from a transaction archive of 10,204 recorded deals. Most private transactions are never disclosed, so this is a sample of a firm’s activity rather than a complete record of it.
Valuation context
Transaction values in Energy & Utilities
What companies have actually sold for in energy & utilities, across 584 recorded transactions.
The full energy & utilities picture - most active acquirers, recent transactions and every investor in the sector.
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Comparable investors
Similar mandates
Other infrastructure investors active in energy & utilities.