Energy and resources-focused private equity firm Denham Capital has shifted the headquarters of its power & renewables team to London to expand its pursuit of deals in emerging markets.
The firm, which has more than $7.3bn in invested and committed capital, said it will allow it to be more geographically aligned in its approach to pursuing investments in regions such as Africa, South America and the Asia Pacific.
The head of the team, Scott Mackin, has relocated to London where he will lead a “growing” group of investment professionals, while the firm will also bolster its presence in Houston.
Mackin relocated from Denham’s Capital Short Hills, New Jersey office which was closed in early August.
“Power and renewables opportunities are far greater overseas today, particularly in emerging markets, than in the US,” said Mackin, co-president and managing partner as well as head of Denham’s Power & Renewables team. “We believe this trend will only continue, as nearly 80 percent of new generation capacity requirements during the next two decades are expected to come from developing economies.”
The London-based team comprises Jens Thomassen, a director, and Juergen Heeg, a vice president, both of whome came to the firm late last year as part of Denham’s effort to bolster its presence in London. Justin DeAngelis will continue to support the investments team from the New York City area.
In addition Todd Bright, a managing director who was tapped two and half years ago to lead the London office, will be moving back to Houston where he will join vice president Saurabh Anand and Peter Ramsumair.
“Headquartering the power & renewables team in London, while also strengthening our presence in Houston, allows us to be more geographically aligned in our approach to pursuing deals globally and continue our close collaboration with our management teams in regions such as Africa, South America and the Asia Pacific,” added Mackin. “At the same time the move ensures we’ll be able to maintain the strong relationships we have established within the U.S.”
Denham Capital’s Fund V and VI backed management teams include Sum Energy Israel, an Israeli developer, owner and operator of independent power projects; Rio Energy, a Brazilian company focused on the development and/or acquisition of greenfield wind projects; OneWind Australia, a developer, owner and operator of wind power projects in Australia; Endeavor Energy, a developer, owner and operator of thermal and hydro power generation facilities across Africa; BioTherm Energy, a leading wind and solar developer in South Africa; and Fotowatio Renewable Ventures, a company that develops, builds and operates solar plants around the globe and is based in London and Madrid.
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