Published: August 18, 2022 |

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Denham Capital Management have made an organizational change to advance its strategy of supplying capital in support of the global energy transition. Denham will lift out its energy resources related team and funds into a newly formed investment firm, Trace Capital Management. This will enable the firm to place its full attention on its energy transition focused sustainable infrastructure and mining investment businesses, which deliver infrastructure and resources critical to the energy transition to global markets.

“This change will allow our firm to focus its time and resources on becoming a preeminent investor in the global energy transition. Going forward, Denham will focus solely on supplying the critical materials, infrastructure, and clean energy generation facilities to power the evolving green economy, while also fulfilling our rigorous ESG objectives and providing superior risk-adjusted returns to our investors in both equity and credit,” said Stu Porter, founder and CEO of Denham Capital.

“At the same time, the formation of Trace Capital Management will allow that team to continue making energy resources investments critical to providing security of energy supply in a capital constrained environment,” added Porter.

Denham’s existing sustainable infrastructure platform currently manages over $3 billion of commitments across its equity and credit investment platforms. It is ideally positioned to play a pivotal role in the global energy transition, helping combat the impact of the ongoing climate emergency while driving economic growth and delivering value for its partners. The sustainable infrastructure team has been investing in renewable power for more than 15 years and has deep expertise in infrastructure “business building” where it acquires, grows, and exits infrastructure businesses.

The current portfolio consists of 12,800MW of assets, including wind, solar, hydro, efficient gas-fired generation and battery storage. The platform’s existing clean energy investments generate power across 11 countries, helping avoid an estimated 1.2 million tonnes of carbon emissions annually. Over the past two years, the team has further expanded its capabilities beyond power investments into broader sustainable infrastructure, reflecting the vast investable opportunity set which aligns with the global energy transition.

Denham’s existing mining platform currently manages over $2 billion and supports management teams and projects in metals and minerals that also play a critical role in the energy and materials transition, including decarbonization of industry, enhanced supply chain security and the acceleration of society’s technological footprint. The current mining portfolio includes eight producing and late-stage development assets in essential metals and minerals such as tin, copper, and rare earths which provide crucial raw materials to enable the transition to the new green economy. These assets are expected to produce in excess of $1.1 billion per annum of EBITDA once at full run-rate production.

Consistent with its overarching strategy of supporting the global energy transition, Denham’s ESG Policy details the firm’s commitments to verifiable impacts on climate change, biodiversity, community engagement, and health and safety. To qualify for consideration as a Denham investment, a project must first meet the firm’s rigorous ESG Policy screening criteria, and ESG is then integrated throughout the investment lifecycle. Denham Capital is a signatory to the United Nations-supported Principles for Responsible Investment (PRI) and Denham Sustainable Infrastructure was recently named “Best ESG Investment Fund: Energy Transition” at the ESG Investing Awards 2022.

The legacy Denham Energy Resources team, led by Jordan Marye, will lead and staff Trace Capital Management and continue to manage the $1.4 billion in existing investments and funds related to the Denham Energy Resources platform. Apart from Marye, Denham’s existing partners, Stu Porter, Justin DeAngelis, Scott Mackin, Jorge Camina, Carl Tricoli, Bert Koth, and Rob Still, will continue to manage Denham’s existing funds as well as to steer the firm’s growth towards a sustainable future.

“Denham is proud to have created and fostered the energy resources investment platform and I look forward to remaining involved as a Trace Capital Partner, investor and contributor to its success,” said Porter.

About Trace Capital Management
Trace Capital Management (Trace) is a proven and pragmatic energy investor focused on value and growth investments across the global energy landscape, with a particular focus on energy infrastructure, upstream oil and gas, and viable low/no carbon opportunities. Based in Houston, Texas, Trace currently manages funds with invested and committed capital of more than $1.4 billion.

To stop by Trace’s website, CLICK HERE

About Denham
Founded in 2004, Denham Capital is a global Energy Transition investment firm, having raised more than $12 billion of capital across multiple sectors. Specializing in private equity, infrastructure and credit, they invest in sectors that are central to the economic and resource transitions happening globally. They deliver the metals and minerals and sustainable infrastructure needed for today and tomorrow. Denham Capital sponsors entrepreneurs, delivering the financial resources and industry expertise needed to create and grow successful infrastructure and resource businesses. They seek to establish long term partnerships with entrepreneurs and companies who share their vision for growth and value creation. Their investment teams have extensive renewable power, infrastructure and mining investment experience, including technical experience as engineers, operators, and business owners.

To stop by Denham’s website, CLICK HERE

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