The $117.8 billion New York State Teachers' Retirement System (NYSTRS) has earmarked $100 million for the Tailwater Energy Fund IV, managed by Tailwater Capital.
The fund will focus on lower middle-market companies operating in the North American midstream oil and gas sector, according to NYSTRS.
The commitment was approved on June 26 and closed on July 2, according to NYSTRS.
The Merced County (Calif.) Employees’ Retirement Association has committed $5 million to the fourth Tailwater fund, which launched in July.
The fund’s predecessor, Tailwater Energy Fund III, invested across the midstream value chain and closed with $1 billion in capital commitments in July 2018.
