Bloomberg News

Denham Capital Said to Raise $1.6 Billion for Sixth Energy Fund

November 16, 2011

Nov. 16 (Bloomberg) -- Denham Capital Management LP, a private-equity firm specializing in energy and commodity investments, received commitments of about $1.6 billion in the first stage of fundraising for its sixth fund, said a person with knowledge of the plan.

The firm expects to complete capital raising in the first quarter of 2012 with more than its original $2.5 billion target, according to the person, who asked not to be identified because the fund is private. The firm brought Denham Commodity Partners Fund VI LP to market in June, according to a private-placement memorandum viewed by Bloomberg News.

Private-equity managers such as Denham Capital, which oversees about $4.3 billion, are seeking to take advantage of growing demand for energy in emerging-market countries. Blackstone Group LP and Apollo Global Management LLC also are raising funds focusing on the industry. Denham’s Fund VI will invest in oil and gas, mining and metals and power including renewable energy.

Paul Winters, general counsel at Boston-based Denham, declined to comment on fundraising. Park Hill Group LLC, the fund placement arm of New York-based Blackstone, is working with the firm.

Denham also has offices in Houston; Short Hills, New Jersey; London; Singapore; and Sao Paulo, according to its website.

--Editors: Josh Friedman, Steven Crabill

To contact the reporter on this story: Sabrina Willmer in New York at swillmer2@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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