Tailwater Capital
Dallas, TX · CRD 167240
Private equity manager
Tailwater Capital is an SEC-registered investment adviser based in Dallas, TX that reports managing 19 private funds on Form ADV, including 19 private equity funds. It reports $4.0 billion in regulatory assets under management. Its private funds hold $4.2 billion in gross assets.
- Regulatory assets under management
- $4.0 billionForm ADV Item 5.F
- Gross assets of private funds
- $4.2 billionAll private fund types, Form ADV
- Private funds managed
- 19PE 19 · VC 0 · hedge 0
- Employees
- 46Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 167240
- Latest Form ADV
- 06/12/2026Disciplinary disclosures: none reported
Private equity funds filing Form D (9)
Fund
First sale
Raised
Investors
Minimum
Offering
Tailwater Fund V SMA-B LP
Dallas, TX
First saleApr 2026
Raised$150M
Investors6
MinimumNone set
Offering506(b)
Tailwater Royalties Fund II LP
Dallas, TX
First saleJun 2024
Raised$85.9M
Investors132
MinimumNone set
Offering506(b)
Tailwater Fund V LP
Dallas, TXEmerging506(c)
First saleOct 2025
Raised$21.7M
Investors8
MinimumNone set
Offering506(c)
Tailwater E&P Fund III SMA-S LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Tailwater Infrastructure CV I-B LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Tailwater E&p Opportunity Fund III LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Tailwater Fund V SMA LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Tailwater Infrastructure CV I LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Tailwater E&P Fund III SMA LP
Dallas, TX
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
Private funds reported on Form ADV (9)
Fund
Gross assets
Minimum
Owners
Adviser
Tailwater Energy Fund IV LP
Delaware, United StatesPrivate equity fund
Gross assets$1.3B
Minimum$500K
Owners66
AdviserTailwater Capital
Tailwater Energy Fund III LP
Delaware, United StatesPrivate equity fund
Gross assets$675M
Minimum$5.0M
Owners84
AdviserTailwater Capital
Tailwater Energy Fund II LP
Delaware, United StatesPrivate equity fund
Gross assets$381M
Minimum$5.0M
Owners102
AdviserTailwater Capital
Tailwater E&p Opportunity Fund II LP
Delaware, United StatesPrivate equity fund
Gross assets$291M
MinimumNone set
Owners15
AdviserTailwater Capital
Tailwater Royalties Fund LP
Delaware, United StatesPrivate equity fund
Gross assets$106M
MinimumNone set
Owners110
AdviserTailwater Capital
TW Tsl Holdco LP
Delaware, United StatesPrivate equity fund
Gross assets$50.7M
MinimumNone set
Owners3
AdviserTailwater Capital
Tailwater E&p Opportunity Fund LP
Delaware, United StatesPrivate equity fund
Gross assets$42.1M
MinimumNone set
Owners34
AdviserTailwater Capital
TW Ef-II Advisors LP
Delaware, United StatesPrivate equity fund
Gross assets$4.4M
MinimumNone set
Owners4
AdviserTailwater Capital
Tailwater Energy Fund II (N-Qp) LP
Delaware, United StatesPrivate equity fund
Gross assets$1.7M
MinimumNone set
Owners7
AdviserTailwater Capital
As reported in the adviser's Form ADV filed Mar 28, 2024. Funds also listed from Form D are shown above.
Fund vehicles: feeder funds and single-deal vehicles (3)
Fund
Gross assets
Minimum
Owners
Adviser
Goodnight Midstream Co-Invest LP
Delaware, United StatesPrivate equity fund
Gross assets$129M
MinimumNone set
Owners31
AdviserTailwater Capital
Silver Creek Midstream Co-Invest LP
Delaware, United StatesPrivate equity fund
Gross assets$119M
Minimum$1.0M
Owners28
AdviserTailwater Capital
Blue Tide Environmental Co-Invest LP
Delaware, United StatesPrivate equity fund
Gross assets$31.4M
MinimumNone set
Owners5
AdviserTailwater Capital
Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.
From SEC filings. Firm data comes from the SEC's Form ADV data. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures