Denham Capital Management LP, a Boston-base private equity firm targeting the energy sector, said it?s financing the launch of a power-financing company, Endeavor Energy, to the tune of $100 million.
Endeavor, which will pursue investments in thermal and hydroelectric power projects in Africa, operates out of Houston, according to its website.
Denham said in a statement its initial investment in Endeavor could be followed by financing from other investors and partners down the road. Sean Long, a 20-year power industry veteran, was tapped to serve as CEO of Endeavor Energy. Long?s management team has developed more than 25 power projects in 16 countries with investments of more than $3.3 billion, Denham said in a statement.
Endeavor expects it will invest in majority equity stakes in power projects in Africa over the next five years, according to Denham.
Collin Eaton covers banking, finance and securities.
Source: http://feedproxy.google.com/~r/vertical_29/~3/0unyWyBhbuM/denham-capital-forms-houston-power.html
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