Dallas-based private equity firm Tailwater Capital has promoted two senior leaders within the Tailwater family.
Tailwater Capital is a growth-oriented energy and growth infrastructure private equity firm with a strong track record of working constructively with management teams to deliver value-added solutions. It has raised more than $3.8 billion in committed capital since inception and the team has executed more than 100 transactions representing over $23 billion in value.
Paul Lee, who previously served as entrepreneur-in-residence for Tailwater Capital, has been promoted to operating partner, where he will continue to play an integral role across Tailwater’s investment initiatives, with a particular focus on cultivating and evaluating operated upstream opportunities.
Doug Prieto, who was president of Tailwater Royalties, has been appointed chief executive officer of Tailwater E&P LLC, a newly branded entity that combines its existing non-operated exploration and production and royalties businesses.
Developing an upstream portfolio
The firm said that Lee and Prieto will serve in critical leadership roles within the Tailwater family and will work closely together across all upstream opportunities.
The company said that the newly branded Tailwater E&P team will manage Tailwater’s existing non-operated E&P investment platform, an owner of non-operated working interests in high-quality upstream oil and gas assets, and Tailwater Royalties, a buyer of oil and gas mineral interests in the Lower 48 states.
Also, Tailwater E&P will play a key role in the technical evaluation of the firm’s midstream infrastructure and upstream investments. The firm said that Tailwater E&P will work closely with Tailwater’s investment professionals to support the firm’s operated E&P strategy to develop a comprehensive upstream portfolio across operated, non-operated, and royalties verticals within the E&P space.