Denham Forms Trace Capital Via ‘Lift Out’ of Oil and Gas Deal Team

Denham Capital formed Trace Capital Management on Aug. 15 via a “lift out” of its energy resources investment program as Denham rebrands itself as a global energy transition investment firm.

Headquartered in Houston, Trace Capital will be led by the current energy resources leadership team and focus on traditional oil and gas investments.

“We are excited to form Trace Capital in a moment of great change and opportunity in the global energy landscape,” commented Jordan Marye, who know serves as Trace’s managing partner.

With more than $1.4 billion of invested and callable capital across two actively investing funds, Trace Capital aims to continue the successful energy resources investment strategy of making private investments in energy infrastructure, upstream oil and gas and low/no carbon assets and businesses, according to the release.

“We are excited to form Trace Capital in a moment of great change and opportunity in the global energy landscape.”—Jordan Marye, Trace Capital Management

Trace’s current portfolio comprises 11 active investments including Rushmore Resources, Rockies Resources, Canes Midstream and BANGL Pipeline.

“We believe our investment process, team and proven track record form the foundation of an advantaged energy investment platform for institutional investors, entrepreneurs and businesses seeking to capture real energy returns available today while also taking advantage of opportunities created by the world’s critical low-carbon priorities,” Marye added.

In addition to Marye, Trace will be led by Stu Porter, Geer Blalock, Steven Smith, James Obulaney and Anil Pillai along with the rest of the current energy resources team.

Porter, who founded Denham Capital, will continue to serve as the firm’s CEO, chief investment officer and managing partner as well as senior partner of Trace.

“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 continued success,” Porter commented in the release.

Denham Capital remains headquartered in Boston and is focused on investing in and supplying the critical components of the global energy transition including metals and minerals, infrastructure and clean energy generation assets, according to the firm’s website.