Tailwater Capital Promotes Doug Prieto and Drew Winston to Partner

DALLAS, Dec. 16, 2025 /PRNewswire/ -- Tailwater Capital LLC ("Tailwater"), an energy and infrastructure private equity firm, today announced the promotion of two key team members, Doug Prieto and Drew Winston, to Partner. Each has played a pivotal role in advancing Tailwater's strategy across critical investment areas, helping expand the firm's proprietary sourcing capabilities, technical edge, and long-term value creation for its limited partners. Their promotion to Partner underscores Tailwater's commitment to deep bench strength and long-term growth across its portfolio.

Doug most recently served as Chief Executive Officer of Tailwater E&P and led the firm's mineral, royalty, and non-operated upstream investment strategy. Since joining the firm in 2021, Doug has helped build Tailwater E&P into a strategically focused and data-driven platform, known for executing proprietary transactions and managing a broad footprint of producing assets with deep inventory. He serves on the boards of Pivotal Petroleum Partners I & II and Pivotal Royalties Partners I & II, and is actively involved with Tailwater E&P SPV, LP.

"Doug has brought tremendous vision and discipline to our upstream platform, helping build what we believe is the leading royalty and non-op model in the industry," said Edward Herring, Tailwater Co-Founder and Managing Partner. "His leadership in assembling and managing world-class assets and teams has driven meaningful value creation for our investors."

Drew joined Tailwater in 2018 and since that time has led the sourcing, evaluation, execution, and ongoing management of investments across the firm. He currently serves on the boards of multiple portfolio companies including WTG Energy, Central Midstream, Producers Midstream, Summit Midstream (NYSE: SMC) and Goodnight Midstream. His leadership and sector expertise have been pivotal in identifying and executing several high-quality investments that have been instrumental to the growth of Tailwater's platform.

"Drew has consistently demonstrated an ability to pair deep industry relationships and strategic decision making to drive value across our portfolio and to our investors," said Jason Downie, Tailwater Co-Founder and Managing Partner. "His leadership style has fostered an environment of collaboration and innovation within Tailwater and has made him a trusted board member to our portfolio company management teams."

These promotions come at a time of strong momentum for Tailwater, as the firm expands its leadership focus on delivering reliable, high-return solutions in a dynamic market. Both Doug and Drew will continue to play critical roles in advancing Tailwater's investment strategy and reinforcing its reputation as a trusted, high-performing partner in energy and infrastructure investing.

About Tailwater Capital
Dallas-based Tailwater Capital is an energy and infrastructure private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $6 billion in committed equity capital since inception, and the team has executed more than 235 transactions representing over $28 billion in value. For more information, please visit www.tailwatercapital.com.

Contact

Jill McMillan
Managing Director, Communications & Public Affairs
Phone: 214-489-7047
Email: [email protected]

John Schaufele
Managing Director, Investor Relations & Fundraising
Phone: 214-489-7043
Email: [email protected]

Forward-Looking Statements

Includes non-Tailwater controlled capital pursuant to the Tailwater led management buyout processes for which Tailwater provides management related services.

SOURCE Tailwater Capital