International Power

Stuart Porter is a Founder, Managing Partner and serves as the firm’s Chief Executive Officer and Chief Investment Officer. Stu brings over 29 years of senior investment experience to Denham. Stu serves on the Investment Committee and Valuation Committee.

Prior to founding Denham, Stu was a founding partner of Sowood Capital Management LP and, prior thereto, was employed as a Vice President and Portfolio Manager at Harvard Management Company, Inc. where he focused on public and private transactions in the energy and commodities sectors. Stu previously worked for Bacon Investments and at J. Aron, a division of Goldman Sachs. While at J. Aron, he worked on the Goldman Sachs Commodity Index desk. Prior to joining J. Aron, Stu was a self-employed trader at the Chicago Board of Trade and was employed by Cargill Incorporated in Minnetonka, Minnesota in the Financial Markets Division.

Stu received a Bachelor of Arts from the University of Michigan and a Master of Business Administration degree from the University of Chicago Booth School of Business.

Scott Mackin is a Managing Partner of Denham Capital and heads the firm’s International Power team.  Scott brings over 25 years of energy experience to Denham and is a member of the Investment Committee and Valuation Committee.  He currently serves on the Advisory Board of Jenner Renewables and as a member of the Board of Directors of Rio Energy, Endeavor Energy and Thesis Energy.  Scott is a frequent guest speaker at the London Business School and the inaugural Chairman of the Emerging Markets Private Equity Association (EMPEA) Energy and Infrastructure Council.   He is also a Board member of Positive Planet UK and a Business Mentor for under-employed young people for The Prince’s Trust.

Denham has backed the successful development of numerous power projects across the globe, from wind and solar in South Africa, Italy, Brazil, Uruguay and Australia to thermal generation in the Philippines and Africa. Denham’s projects have won numerous awards including Reuters Project Finance International Asia-Pacific Power and Africa Power Deal of the Year, Euromoney Project Finance APAC Power Deal of the Year, IJ Global African Power and APAC Solar Deal of the Year, and European Solar Deal of the Year.

Denham Power’s social and environmental objectives help fulfill many key UN Sustainable Development Goals.

Prior to joining Denham, Scott was CEO of Covanta Energy Corporation, President of Ogden Energy, and General Counsel at Ogden Projects. He also was an Associate at Schnader, Harrison, Segal & Lewis and Law Clerk to the Hon. Daniel H. Huyett III, Federal District Court for the Eastern District of Pennsylvania.  Scott has a Juris Doctorate degree from University of Michigan Law School and a B.A., Honors Program, from Villanova University.

Justin DeAngelis is a Partner in the International Power Fund of Denham Capital. Justin is responsible for origination, analysis, structuring, valuation and execution of investments, as well as fundraising, for the Power Deal Team. He brings over 20 years of experience to the firm and is a member of the Investment Committee and Valuation Committee.

Prior to joining Denham, Justin was a Director at Waypoint Energy and worked as a Manager at Pace Global Energy and PG&E National Energy Group, after serving as an Engineer at Delmarva Power.  He is currently a member of the Board of Directors of Endeavor Energy, Themis Energy, Greenleaf Power, Jenner and subsidiaries of Rio Energy.

Justin is a member of the Millennium Challenge Corporation Advisory Council and a member of the Advisory Council for NASP-USAID Investment Partnership for “Mobilizing Institutional Investors to Develop Africa’s Infrastructure” or “MIDA.”  He also serves as a Board Member for IGD (Initiative for Global Development) and is a member of the EMPEA Gender Parity Acceleration Working Group. Separately, Justin is taking part in Columbia University’s World Projects Initiative.

Justin received a Bachelor of Science in Mechanical Engineering from Drexel University and a Master of Business Administration from LeBow College of Business at Drexel University.

Saurabh Anand is a Managing Director, responsible for origination, analysis, structuring, valuation and execution of investments for the Power Deal Team. He brings over 17 years of principal investing experience in the global energy industry to the firm and is a member of the Investment Committee.

Saurabh currently serves on the Board of Directors of Nexif Energy, Rio Energy, Jenner Renewables, and Greenleaf Power.

Prior to joining Denham, Saurabh spent four years with GE Energy Financial Services focusing on private equity and structured financing transactions in the energy industry. In this role, he originated, evaluated and executed multiple power generation and oil and gas investments in the United States and Asia Pacific region. He currently serves on the Board of Directors of Nexif Energy, Jenner Renewables, Rio Energy and Greenleaf Power.

Saurabh received a Bachelor of Engineering from Panjab University and a Post Graduate Diploma in Management from Indian Institute of Management Calcutta.

Ms Nyker is a Managing Director in the International Power Fund at Denham Capital. Prior to Denham, she was the Chief Executive Officer of BioTherm Energy, the leading African renewable energy independent power producer, which was previously owned by Denham Capital and recently acquired by Actis in July 2019.  Under her leadership, the business grew from 4MW in PPA’s to over 450MW’s of secured PPA’s.

Prior to BioTherm, Ms Nyker led the direct investment arm of the PCG Clean Energy Fund based in California. She has also worked for Booz Allen where she was instrumental in structuring and investing a clean energy investment fund on behalf of a Middle Eastern National Oil Company. She also worked for Lehman Brothers in London, as well as Brait Private Equity in South Africa.  Ms. Nyker holds an MBA from London Business School, where she was a Merrill Lynch Scholar and is a World Economic Forum Young Global Leader.  She has been listed in the Power Elites 2017.

Koenraad (Koen) Driessens is a Director, responsible for origination, analysis, structuring, valuation and execution of investments for the Power Deal Team. He brings 26 years of principal investing and power consulting experience to the firm.

Prior to joining Denham, Koenraad served as a Senior Analyst at Sowood Capital Management where he focused on US power acquisitions. Prior to that he was a Senior Analyst at Capstone Global Energy providing power market consulting services in Germany. Previously, he was a Business Analyst at SKF and an energy economist at Laurits R. Christensen Associates.

Koenraad is fluent in Dutch and conversant in French and German. He received a Bachelor of Science from the University of Wisconsin – Green Bay and a Master of Science in Applied Economics from Marquette University.

Ricardo is a Vice President, responsible for financial analysis, origination, structuring, execution and monitoring of investments. He brings 7 years of experience to the firm and joined Denham Capital in 2019.

Prior to joining Denham, Ricardo was an Associate at the Abu Dhabi Investment Authority and an Analyst at the International Finance Corporation based out of Hong Kong.

Ricardo earned a Bachelor of Engineering from the National University of Colombia in Bogota D.C. and holds a Master’s degree in Infrastructure Project Management from the University of Hong Kong.

Paras is an Associate, responsible for financial modeling, execution and monitoring of investments in the Power / Renewables industry. He brings 11 years of experience to the firm and joined Denham Capital in 2019.

Prior to joining Denham, he was a Manager in the Business Development Team at BioUrja Trading. Prior to that, he was a Vice President in the Origination and Business Development Team at EDF Trading in London focused on evaluating, structuring, executing and monitoring transactions in the energy industry. Previously, he was a Senior Associate in the Valuation Team at Deloitte.

Paras received a Bachelor of Business Administration in Business Honors and a Master in Professional Accounting from the University of Texas at Austin.

Zue Leong is an Associate, responsible for financial modeling, execution and monitoring of investments. She brings three years of experience to the firm and joined Denham in 2018.

Prior to joining Denham, Zue was an Analyst in the Power, Utilities & Infrastructure Investment Banking team at Citigroup in London.

She holds a Master of Engineering in Biomedical Engineering from Imperial College London.

Sabine Chalopin is the ESG Manager to Power Deal Team and is responsible for screening, managing and monitoring investments for environmental and social risks and opportunities. She brings 12 years of power experience to the firm.

Prior to joining Denham, she was the ESG Manager at Armstrong Asset Management in Singapore where she implemented an Environmental and Social Management System and managed projects for environmental and social compliance in Southeast Asia. Prior to Armstrong Asset Management, Sabine was with Kyoto Energy (Singapore) where she was responsible for business development.

She holds an MSc in Environmental Technology from Imperial College London and a BCom in Business Studies from Edinburgh University.

Ms. Dragan is an Analyst, responsible for performing research, analysis and financial modelling. She brings two years of experience to the firm and joined Denham in 2019.

Prior to joining Denham, Daniela was a Corporate Finance Analyst at B.B.Energy in London. She received her Master and Bachelor of Science in Economics at London School of Economics.

Victor Muñoz is an Operating Partner, responsible for the origination, analysis, structuring and execution of investments within Latin American region. He brings 26 years of experience to the firm. Victor is a member of the Valuation Committee, the Power Deal Team and the Mining Deal Team.

He is fluent in English, Spanish and Portuguese.

Prior to joining Denham, Victor was a Director at PSEG Global, a Manager at Enron North America and an Associate at Chase Securities. He currently serves on the Board of Directors of Mining Ventures Brasil Ltda., Stellar Mining, Santiago Metals and Rio Energy.

He received a Bachelor of Science from Los Andes University in Colombia and a Master of Business Administration from Harvard Business School.