Denham Capital Management, a global private equity shop focused on the energy and commodities sector, has hard-capped its fifth commodity fund at US$2 billion.

Denham Commodity Partners Fund V will invest in the power and carbon, natural resources, and energy infrastructure sectors. The firm invests globally, with investments currently in North America, South America, Europe, the former Soviet Union, Asia and Australia.

The firm opened its London office last year and also expects to open an office in São Paulo, Brazil, later this year, to further focus on the extensive sector opportunities in Latin America.