Tailwater, which is led by former HM partners Jason Downie and Edward Herring, partnered with Landmark Partners to pick up the assets including BlackBrush Oil & Gas, TexStar Midstream Services and SunTerra Well Services.
Downie and Herring were responsible for sourcing those investments and general oversight of the companies’ performance through their board seats.
Landmark is a private equity and real estate investment firm specialising in secondary funds.
Partner Ian Charles said, “Edward and Jason bring extensive industry experience and proven investment capabilities to this venture. With an excellent team and infrastructure, Tailwater is well-positioned to pursue opportunities in the energy sector.
CPP has committed $138m to newly-formed Kainos Capital Partners, which will be managed by the food and consumer products team of HM Capital.
HM will continue to manage its former portfolio assets on behalf of CPP following the sale.
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