Stephen Lipscomb Jr., principal at Dallas-based private equity firm Tailwater Capital LLC, is today’s featured Forty Under 40 honoree.
Lipscomb’s oil and gas career began following his time at JP Morgan, Brazos Private Equity Partners and an MBA from the McCombs School of Business at The University of Texas at Austin. Networking led him to the oil and gas industry. Amid the shale revolution’s onset, he joined Crestwood Midstream Partners, an experience that set the foundation for his career today at Tailwater Capital where he has led deal teams to complete key transactions for the private-equity firm.
Notable transactions include forming Silver Creek Midstream, closing the 2017 acquisition of the Red Butte crude system with Silver Creek and structuring Silver Creek’s joint ventures in the Powder River Basin. Lipscomb also helped close the firm’s 2020 fundraise for Energy Fund IV at $1.1 billion in total commitments including co-investments.
“I am extremely proud of the efforts of our entire team to raise that fund during a very challenging fundraising environment,” he said.
And despite the challenging environment the industry currently faces, Lipscomb remains passionate about the industry’s strategic relevance and the opportunity set in front of Tailwater.
“My experiences at JPMorgan, Brazos Partners, Crestwood and now Tailwater have all shaped who I am as a person and a leader. ... The founders of Tailwater, though, have been singularly influential to me as an executive,” he said. “They have an incredibly close relationship and work seamlessly together while bringing complementary skill sets to the table. It’s been a great blueprint for how to successfully partner with someone and create an environment in which others can flourish.”