Trace Capital Management, Formerly Denham Capital’s Energy Resources Investment Platform, Announces Newly Formed Energy Focused Investment Manager

August 15, 2022

Trace will focus on traditional energy investments that drive energy security today and opportunities to create the necessary low carbon world of the future.

HOUSTON – August 15, 2022 – Trace Capital Management (Trace) announced today that it has been formed via the “lift out” of Denham Capital’s Energy Resources investment program – its active funds, people and associated infrastructure – into a newly created energy focused SEC registered investment advisor.

With more than $1.4 billion of invested and callable capital across two actively investing funds, Trace will continue the successful Energy Resources investment strategy of making private investments in energy infrastructure, upstream oil and gas and low/no carbon assets and businesses. Trace generates market leading energy returns by prioritizing management team edge, asset level diligence and discipline, portfolio construction and risk management.

Jordan Marye, Trace’s Managing Partner said, “We are excited to form Trace Capital in a moment of great change and opportunity in the global energy landscape. We believe our investment process, team and proven track record form the foundation of an advantaged energy investment platform for institutional investors, entrepreneurs and businesses seeking to capture real energy returns available today while also taking advantage of opportunities created by the world’s critical low carbon priorities.”
Trace will be led by the current Energy Resources leadership team of Jordan Marye, Stu Porter, Geer Blalock, Steven Smith, James Obulaney and Anil Pillai along with the rest of the current Energy Resources team. The Trace leadership team has worked together for over 10 years during which time the team has managed more than $2.9 billion in total committed and invested capital and 26 investment platforms. Trace’s current portfolio includes 11 active investments including Rushmore Resources, Rockies Resources, Canes Midstream and BANGL Pipeline.

Stu Porter, Managing Partner of Denham and Senior Partner of Trace said, “Denham is proud to have created and fostered the Energy Resources investment platform, and I look forward to remaining involved as a Trace Capital partner, investor and contributor to its continued success.”

About Trace:
Trace Capital Management (Trace) is a proven and pragmatic energy investor focused on value and growth investments across the global energy landscape, with a particular focus on energy infrastructure, upstream oil and gas and viable low/no carbon opportunities. Based in Houston, Texas, Trace currently manages funds with invested and committed capital of more than $1.4 billion. Learn more at