Denham Capital, a leading energy and resources-focused global private equity firm, will open an office in Perth, Australia, in February 2013. Bert Koth, director of Denham Capital’s Metals and Minerals team will relocate from the firm’s London office to manage operations in Perth. In addition to pursuing metals and minerals investments in Australia and the Asia Pacific region, the office will also seek opportunities in Denham Capital’s other two core sectors: power and renewables and oil and gas.
“While Perth and Australia are rightfully thought of as global centers for metals and minerals, investment opportunities in the country and Asia Pacific region in all three of our core sectors are abundant,” said Koth. “For instance, while the European debt crisis and a softened outlook in China have damaged the traditional capital markets based funding model for junior mining companies and created a funding void for private equity to fill, there are also meaningful onshore natural gas shale resources in Australia that will require capital, and this is an area in which Denham has been very active in the U.S. In addition, the climate for deals within the power and renewables sector in the region is equally compelling.”
Denham Capital is currently working with two portfolio companies in the Asia Pacific region; Trans-Tasman Resources (TTR) and GNPower. Wellington, New Zealand-based TTR explores and develops deposits of iron sands off the North Island of New Zealand while GNPower, based in Manila, developed and is constructing a 600 MW project in the Philippines.
Joining Koth and working with him directly in Perth will be Spencer Soh, an associate with more than six years of experience. Soh will be relocating from the Denham Capital Singapore office, which was closed as part of the process of relocating the firm’s Asia Pacific regional operation to Perth in late September.