Investments

Since 2004, PEP Investments has deployed over $15 billion of capital for our clients in both public and private markets across traditional energy and the Energy Transition.

Private Investment Strategies

Diverse professional backgrounds and a flat operating structure improves the “marketplace of ideas” on PEP’s Private Equity team.

PEP’s private equity practice focuses on discrete energy investment opportunities with asymmetric returns propositions. Featuring a team with diverse investment and direct operating backgrounds, PEP Private Equity has proven a capacity to provide investors with differentiated perspectives and unique access to value-oriented private energy investment strategies. Our principles are simple: honesty, deep technical due diligence, structural flexibility, and strong investor alignment. Our “more partner, less sponsor” approach to energy investing has helped to shape our superior industry and client networks as well as our longstanding reputation for fair dealing. PEP Private Equity’s primary goal continues to be creating outsized risk-adjusted returns for our clients, alongside whom we will always invest in the PEP Private Equity strategies.

Public Investment Strategies

Business analysts focused on long-term value creation.

Our public equities strategies focus on structurally advantaged assets across an array of enabler commodities and infrastructure projects. By taking a private equity approach to the public markets, PEP Public Equity assesses asset quality and management’s ability to generate long-term value. Our strategies focus on doing well while doing good: attractive prospective returns while supporting global zero-carbon efforts.

Recent

SAILINGSTONE SHALE 2.0 Happy Five-Year Anniversary

Read More
A colorful neural network

Dan Pickering Weighs in on the European Energy Crisis

Dan Pickering joins CNBC’s The Exchange – along with Rapidan Energy Group’s Bob McNally – to share his take on Russian sanctions on European energy supplies and what it means for the global energy landscape.

Read More

Dan Pickering Discusses Oil Markets on CNBC

In light of OPEC+’s recent decision to implement a small production cut, Dan Pickering joins CNBC’s Street Signs Asia to share his thoughts on oil price caps, supply and demand trends, and his predictions on Russia.

Read More

SailingStone Statement on Turquoise Hill Special Committee Approval of Rio Tinto Offer

Latest Rio Tinto Offer Remains Disappointing to Minority Shareholders

Read More

SailingStone Applauds Turquoise Hill Response to Rio Tinto’s Offer

In their second open letter to TRQ Independent Directors this year, SailingStone applauds their decision to reject Rio Tinto’s offer highlighting long-time concerns of minority owners.

Read More

Dan Pickering Talks Clean Energy on CNBC

Reflecting on the recent passage of the Inflation Reduction Act, Dan Pickering joins CNBC’s Worldwide Exchange to discuss what the legislation will mean for the clean energy landscape and for renewable energy investors.

Read More

Dan Pickering Discusses Global Oil Market on CNBC

In light of OPEC+ agreeing to a small increase to its oil output, Dan Pickering joins CNBC Asia to share his thoughts. He predicts that this will be a drop in the bucket in the global market and that we’ll be focused instead on the economy in recession, Russia, and the stopping of the SPR inventory release in the U.S. Watch for more.

Read More

July 2022 – Commentary from Dan Pickering

Better. July saw a bounce in risk assets with the S&P500 jumping +9.1% and energy generally outperforming. There were no particular fundamental epiphanies in the crude oil markets during July. The commodity traded in line with other risk assets, generally rising on up days for the stock market and falling on down days…

Read More

Global Natural Resources and Energy Transition

Q2 2022

As we have discussed for the past few quarters, rising rates, base effects, and far more persistent inflationary headwinds – the hangover from super stimulated monetary conditions post-COVID – are pressuring global economic activity and with it, asset prices. Unfortunately, we don’t think that we are out of the woods yet, as central banks remain behind the curve with both structural (higher long-term commodity prices, the impact of regionalizing supply chains) and cyclical (labor availability, inventory shortages) factors weighing down the outlook for growth and increasing the cost of capital. Despite the associated market volatility, several dynamics are playing out which, perhaps counterintuitively, are increasing our conviction that the next five to ten years should be extremely prospective for a select group of real assets.

Read More