Tailwater Capital, a newly formed Dallas-based private equity firm, has partnered with Landmark Partners to complete the secondary purchase of HM Capital’s legacy energy portfolio.
Jason Downie (pictured) and Edward Herring will lead a team dedicated to investing in the energy industry with a primary focus on investments within the midstream and upstream sectors.
Tailwater will manage a portfolio that includes BlackBrush Oil & Gas, TexStar Midstream Services and SunTerra Well Services. During their tenure with HM Capital, Downie and Herring were responsible for the sourcing of these investments as well as the oversight of each company’s performance through representation on each company’s board.
"We’re excited to launch our fund with Landmark Partners," says Herring. "Landmark has a rich history of successful investments in secondary strategies, and we are confident that together we will continue building on that success."
"Edward and Jason bring extensive industry experience and proven investment capabilities to this venture," says Ian Charles, partner of Landmark Partners. "With an excellent team and infrastructure, Tailwater is well-positioned to pursue opportunities in the energy sector."
Tailwater and HM Capital were represented by a team from Weil, Gotshal & Manges led by partner Rodney Moore and Landmark Partners was represented by a team from Kirkland & Ellis led by partner Michael Belsley.
