DALLAS, February 29, 2016

Tailwater Capital LLC (“Tailwater”), a Dallas-based growth oriented energy private equity firm, announced today that Stephen Lipscomb has joined the firm as a Vice President. Mr. Lipscomb brings over 9 years of diverse experience including midstream operations, private equity and investment banking. Most recently, Mr. Lipscomb was a Senior Director at Crestwood Equity Partners, a publicly-traded master limited partnership that owns and operates midstream businesses in multiple unconventional shale plays across the United States.

Jason Downie, Managing Partner of Tailwater Capital, said: “We’re excited to have Stephen join the Tailwater team. His background combines direct midstream investing with middle market private equity; this unique work experience obviously aligns very nicely with Tailwater’s highly specialized investment mandate. Further, in this environment we need our team to be able to react quickly and we feel Stephen will immediately bolster our investment evaluation and execution capabilities.”

During his time at Crestwood, Mr. Lipscomb’s responsibilities ranged from business and corporate development to corporate finance. Prior to Crestwood, Mr. Lipscomb worked for Brazos Private Equity Partners, a middle market private equity firm with $1.4 billion of assets under management. Prior to that, he worked for JPMorgan as an analyst in their global investment banking practice. Mr. Lipscomb earned an MBA from University of Texas and a BS from Washington and Lee University.