The principals of Tailwater Capital LLC have been TexStar’s equity sponsors since 2004. Tailwater is a growth-oriented energy private equity firm with a well-established track record, having executed more than 35 energy transactions representing $11 billion of transaction value. Tailwater currently manages $1.4 billion in equity capital, over $700 million of which is available for new investments and has a strong history of creating partnerships with experienced management teams to invest growth equity capital in the energy sector.
TexStar Logistics’ management team has significant fundraising experience. Specifically, while at predecessor company BlackBrush TexStar LP between 2011 and 2014, this management team raised approximately $1.7 billion of capital consisting of private equity, mezzanine capital, term loans and senior credit facilities. The largest tranche of debt consisted of a series of loans, led by UBS and Credit Suisse, in which the team raised $875 million from institutions, secured and maintained credit ratings from Moody’s and S&P, hosted quarterly conference calls and ultimately repaid its lenders in just over a year.