Firm profile

Tailwater Capital

DALLAS, TXCRD 167240Registration Status: ApprovedEffective since March 28, 2013SEC # 801-77769Latest ADV June 12, 2026

Tailwater Capital is an SEC registered investment adviser organized as a limited liability company with a primary office location in Dallas, TX. Its latest Form ADV filing, dated June 12, 2026, reports $4.0B in regulatory assets under management, 46 employees, 2 offices, and 21 accounts.

Assets Under Management
$4.0B
Employees
46
Offices
2 offices
Total Clients
21

Associated firm names

3 names listed
  • TAILWATER
  • TW-IM, LLC
  • TAILWATER CAPITAL

Leadership

2 roles identified
CCOBrian M. Blakeman
CFOBrian M. Blakeman

Advisory services offered

2 types reported
Other advisory services
Portfolio management for pooled investment vehicles

Fee models offered

2 types reported
Asset based fees
Performance-based fees

Offices & Contact

Primary office

DALLAS, Texas, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Texas

DALLASPrimary office · THE WOODLANDS

2 office records listed · 2 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$4.0Bas of June 12, 2026
Discretionary83.4%
$3.3B
83% of total RAUM83.4%
Non-discretionary16.6%
$660M
17% of total RAUM16.6%
Regulatory assets under management are split between discretionary and non-discretionary assets.

Client Coverage Demographics

Top client segmentPooled Investment Vehicles represent 100.0% of total clients.
Top client categories% of clientsClients
1
Pooled Investment Vehicles
100.0%
21

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$4.0B
Total Accounts21
10Y AUM Change+$2.7B (+214.3%)

Private Funds

Private funds reported by Tailwater Capital

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees46
Clients per Employee0:1
10Y Employee Change+28 (+155.6%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
TAILWATER CAPITAL, LLCDirect owner · Schedule AInterest in TAILWATER CAPITAL
75%+
JASON HOWLAND DOWNIEDirect owner · Schedule AInterest in TAILWATER CAPITAL
< 5%
JAMES EDWARD HERRINGDirect owner · Schedule AInterest in TAILWATER CAPITAL
< 5%
TAILWATER HOLDINGS, LPIndirect owner · Schedule BInterest in TAILWATER CAPITAL, LLC
75%+
2021 HERRING FAMILY TRUSTIndirect owner · Schedule BInterest in EK HORIZON PARTNERS, LP
75%+
DOWN-E HOLDINGS, LPIndirect owner · Schedule BInterest in TAILWATER HOLDINGS, LP
50% to < 75%
EK HORIZON PARTNERS, LPIndirect owner · Schedule BInterest in TAILWATER HOLDINGS, LP
50% to < 75%
2021 DOWNIE FAMILY TRUSTIndirect owner · Schedule BInterest in DOWN-E HOLDINGS, LP
50% to < 75%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Tailwater Capital.

Reported ownership and control details

Form ADV · Filing date 2026-06-12 · Schedules A and B

18 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1JASON HOWLAND DOWNIEMANAGING PARTNERIndividualTAILWATER CAPITALLess than 5%Code NAYesMANAGING PARTNER03/2013Schedule APDF page 116
2JAMES EDWARD HERRINGMANAGING PARTNERIndividualTAILWATER CAPITALLess than 5%Code NAYesMANAGING PARTNER03/2013Schedule APDF page 116
3TAILWATER CAPITAL, LLCSOLE MEMBERDomestic entityTAILWATER CAPITAL75% or moreCode EYesSOLE MEMBER03/2013Schedule APDF page 116
4BRIAN MICHAEL BLAKEMANCHIEF COMPLIANCE OFFICER AND CHIEF FINANCIAL OFFICERIndividualTAILWATER CAPITALLess than 5%Code NAYesCHIEF COMPLIANCE OFFICER AND CHIEF FINANCIAL OFFICER09/2013Schedule APDF page 116
5JASON HOWLAND DOWNIEVICE PRESIDENTIndividualTW GP HOLDINGS, LLCPercentage not specifiedCode FYesVICE PRESIDENT12/2014Schedule BPDF page 117
6JAMES EDWARD HERRINGVICE PRESIDENTIndividualTW GP HOLDINGS, LLCPercentage not specifiedCode FYesVICE PRESIDENT12/2014Schedule BPDF page 117
7TAILWATER HOLDINGS, LPMEMBERDomestic entityTAILWATER CAPITAL, LLC75% or moreCode EYesMEMBER12/2014Schedule BPDF page 117
8DOWN-E HOLDINGS, LPPARTNERDomestic entityTAILWATER HOLDINGS, LP50% to less than 75%Code DYesPARTNER12/2020Schedule BPDF page 117
9EK HORIZON PARTNERS, LPPARTNERDomestic entityTAILWATER HOLDINGS, LP50% to less than 75%Code DYesPARTNER12/2020Schedule BPDF page 117
10TW GP HOLDINGS, LLCGENERAL PARTNERDomestic entityTAILWATER HOLDINGS, LPPercentage not specifiedCode FYesGENERAL PARTNER12/2014Schedule BPDF page 117
11BRIAN MICHAEL BLAKEMANVICE PRESIDENTIndividualTW GP HOLDINGS, LLCPercentage not specifiedCode FYesVICE PRESIDENT12/2014Schedule BPDF page 117
122021 DOWNIE FAMILY TRUSTOWNERDomestic entityDOWN-E HOLDINGS, LP50% to less than 75%Code DYesOWNER10/2021Schedule BPDF page 117
132021 HERRING FAMILY TRUSTOWNERDomestic entityEK HORIZON PARTNERS, LP75% or moreCode EYesOWNER11/2021Schedule BPDF page 117
14JAMES EDWARD HERRINGTRUSTEEIndividual2021 HERRING FAMILY TRUSTPercentage not specifiedCode FYesTRUSTEE11/2021Schedule BPDF page 117
15JASON HOWLAND DOWNIETRUSTEEIndividual2021 DOWNIE FAMILY TRUSTPercentage not specifiedCode FYesTRUSTEE10/2021Schedule BPDF page 117
16JAMES EDWARD HERRINGMANAGING PARTNERIndividualTAILWATER CAPITAL, LLCPercentage not specifiedCode FYesMANAGING PARTNER11/2014Schedule BPDF page 117
17JASON HOWLAND DOWNIEMANAGING PARTNERIndividualTAILWATER CAPITAL, LLCPercentage not specifiedCode FYesMANAGING PARTNER11/2014Schedule BPDF page 117
18BRIAN MICHAEL BLAKEMANCHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICERIndividualTAILWATER CAPITAL, LLCPercentage not specifiedCode FYesCHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER11/2014Schedule BPDF page 117

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 6/12/2026 10:14:08 AM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.