David Allen
Managing Director

Energy & Infrastructure Investment Management; Financial Sponsorship; Trading & Risk

David Allen is a Managing Director at Ankura, based in New York. His career began at Goldman’s SLK division as a derivatives trader in 1996. David then applied a “real options” approach to restructuring physical power and gas assets on the AIG financial products desk in 2002. Recognizing the role that banks and funds were playing in principal finance, hedging, and physical energy asset optimization at the time, David joined Barclays global commodities team, where he served as COO until 2007. In subsequent years, David served as portfolio manager, oil and gas for a $5 billion investment fund through 2014. He then provided advisory services via directorships to a number of clients including: Solace Systems, Infinium Asset Management, Nextera Energy, Accushares, and several private equity and infrastructure funds. David stays active philanthropically in the St. Baldricks Foundation, DRI, and volunteering locally.

  • Experience

    David’s professional experience includes:

    Energy Market Risk Management

    • Implemented several risk management platforms for assessing physical and financial energy market exposures at Bank of America, Citadel, AIG, and JPM Chase.
    • At AIG FP, created infrastructure for managing risk dynamically across several portfolios:
      • Over 20 generation assets being restructured (via gas purchase contracts and PPAs)
      • Prepaid natural gas transactions (VPPs)
      • Tax motivated coal transactions

    Transaction Origination and Structuring

    • Sourced more than $1 billion committed capital for energy fund managed by global insurer
    • Led bank deal team on $800 million electricity portfolio novation for large Texas utility
    • Led bank deal team on $700 million prepaid gas transaction for public E&P company
    • Sold more than $100 million structured energy equity for bank to large pension and endowment buyers
    • Optimized “extrinsic” value (capacity) of power asset for Infra fund using US utility trading desk

    Energy Subject Matter Expertise

    • Led operational due diligence of deregulated retail power and gas firm (REP) for $300 billion PE fund
    • Advisor to NASDAQ traded commodity ETF
    • Advisor to US agribusiness on distributed energy resources (hydro/solar, storage, NG)