01
About
Danny Topperberg is a private investor and the Chairman of Voxen Energy, a private investment company in pipeline gas, LNG and the infrastructure that moves them.
His first serious deals were mineral off-take agreements, negotiated with Chinese state-owned enterprises during Australia's mining boom. Much of his work since has been at the physical end of the energy chain: terminals, supply contracts, and the restructurings that follow when a project underdelivers.
That is where he learned that the contract matters more than the asset, and it is still how he reads a deal.
Outside energy, his private investments include hotels and property.
02
How he looks at deals
Three things he checks before the model.
- i.The contract is what you actually own.Diligence tells you what an asset is. The paperwork decides what you are left holding.
- ii.Price is the easy part.It is the easiest thing in the document, and almost never the thing that decides whether you make money.
- iii.Small commitments first.Whether a counterparty does what they said they would do, especially on small things. People who are slow with small commitments are slower with big ones.
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Contact
danny@topperberg.com
Sydney and Hong Kong.