Denham Capital, a leading global energy-focused private equity firm, and Nexif, a Singapore-based independent power management company, announced today a partnership to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Southeast Asia. The platform marks a return to the region for Denham and builds upon Nexif’s strong experience and relationship base.
“We are excited to team with Denham in chartering the next phase of Nexif’s growth. Southeast Asia has a tremendous need for new power generation and we look forward to working with governments, our partners and the region’s communities to provide electricity solutions that are both economical and reliable,” said Surender Singh, a Founder and Co-Chief Executive Officer of Nexif Energy.
With Singh and fellow Founder and Co-Chief Executive Officer Matthew Bartley are Nexif’s team of highly experienced power development professionals. Together, they have developed, financed, constructed or exited more than four gigawatts of projects with an enterprise value of $4.3 billion in Asia, Australia and the Middle East.
“The Denham and Nexif Energy teams are leaders in the power generation development and investment space, having undertaken several projects in Asia and other global markets. We will be in a privileged position to take advantage of opportunities in our target markets and look forward to establishing this new platform as a leading power generation developer in Southeast Asia and Bangladesh, with potential future expansion into other regional markets,” added Bartley.
During the last five years, the Nexif team worked as the manager for InfraCo Asia, an infrastructure platform funded by several European government development finance institutions. Prior to that, the core senior team also worked together under the leadership of Singh and Bartley in the Southeast Asia region for many years.
“Denham Capital is delighted to partner with Surender, Matthew and their proven team with an outstanding track record in power sector,” noted Scott Mackin, Managing Partner and Co-President at Denham Capital. “They are perfectly suited to build on our previous work in the region, which includes the successful development, construction and ultimate sale of our interest in GNPower’s 600 megawatt Mariveles power generating plant in the Philippines. Through the Nexif Energy platform we anticipate investing more than $200 million in project equity across the region.”
In addition to its GNPower investment, Denham’s Power team is currently active in Australia through its portfolio company, OneWind Australia. It also recently exited its investment in international solar developer Fotowatio Renewable Ventures (FRV), which has significant activities and a team on the ground in Australia.
“The partnership with Nexif follows our strategy of backing the best management teams to develop and construct contracted power generation assets in high-growth markets with a fundamental need for power,” added Saurabh Anand, Director at Denham Capital.
Nexif was established by experienced professionals with a proven track-record in the development, financing, acquisition, restructuring, management and divestment of infrastructure assets. Nexif is headquartered in Singapore, and has offices and extensive networks across Asia. Since 2010, Nexif, as manager of InfraCo Asia, has been originating and developing infrastructure project for InfraCo Asia through its subsidiary Nexif (InfraCo) Management Pte. Ltd. It is currently in the process of transitioning from that role with InfraCo Asia to undertake other growth opportunities. For more information about Nexif, visit www.nexif.com.
About Denham Capital
Denham Capital is a leading energy and resources-focused global private equity firm with more than $7.9 billion of invested and committed capital across seven fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving power generation, oil and gas, and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.
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