Entrada asset sale LOI with New West Data
Portfolio company Entrada signed an LOI to sell its central Alberta assets.
Private Equity
Energy private equity firm founded in Calgary in 2000, now building energy and critical-minerals infrastructure for AI supply chains.
Azimuth Capital Management was founded by energy operators in 2000. It began with resource-focused private equity, where across five funds and a co-investment program it backed 38 companies, including MEG Energy and Seven Generations Energy before their IPOs, and reached a peak AUM of $5.9 billion. Since 2020 it has shifted to in-house infrastructure development through Azimuth Development Partners and ADP AI Supply Chains, focused on critical-minerals processing, baseload clean power and low-carbon fuels. Principal offices are in Calgary and Menlo Park, California. For students, it runs an 8-month Private Equity Student Analyst term in Calgary.
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Five funds and a co-investment program that started in resources and moved over time toward infrastructure development; portfolio boards include Altex Energy, Corex Resources, Entrada Resources and Recover Energy Services.
In-house platforms, active since 2020, that create and de-risk infrastructure ventures in critical-minerals processing, baseload clean power and low-carbon fuels, including Nexaltis Minerals and PureVolt Energy Systems.
| Calgary | AB | headquarters |
Menlo Park
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From the inside
Reasons that work in interviews
3 reasons for Azimuth Capital Management
Infrastructure and energy assets need refinancings, construction periods and asset recycling, so there is always work on an existing asset even when nothing new is being bought. That is a better “why infra” than stability or inflation protection, and it answers the hidden question about whether a junior will be busy.
Long-standing Calgary energy investor with a history predating its current name, so the institutional knowledge is deep.
Energy and energy transition investing from a Calgary seat, close to the assets and the operators.
Small team means associates work on assets rather than on a screening pipeline.
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How juniors get in
Hires an 8-month Private Equity Student Analyst in Calgary each fall (watch for a summer deadline), and its associate came from corporate banking and corporate development.
Green: evidence it does. Struck through: evidence it doesn’t. Dashed: no public evidence either way.
Programs
Integrated crude-by-rail platform moving Canadian crude to multiple destinations.
Energy
Acquires, exploits and develops light oil assets with a focus on Manitoba.
Energy
Industrial-scale piping for superconducting cables serving LNG, carbon sequestration and hydrogen markets.
Infrastructure
Acquires and develops oil and liquids-rich gas assets, anchored in the Cardium at Willesden Green.
Energy
Waste-to-value projects that destroy PFAS while producing biochar and electricity.
Infrastructure
Oil and gas producer focused on the Viking formation, led by a repeat Azimuth management team.
Energy
Makes proprietary water-cut and multiphase flow meters for oil and gas operations.
Energy
Plasma pyrolysis process producing carbon black and hydrogen without CO2 emissions.
Infrastructure
MV Clean Energy
Platform producing decarbonized ammonia under long-term offtake for global markets.
Infrastructure
PureVolt Energy Systems
Developing a decarbonized power production platform to supply reliable electricity at scale to AI data centres.
Infrastructure
Converts oil-based drilling waste into carbon-negative diesel fuel with proprietary technology.
Infrastructure
Develops liquefied natural gas projects using a proprietary at-shore LNG design.
Infrastructure
Co-Founder and Managing Partner
Leadership Team
Co-founded Azimuth after serving as co-head of North American Energy at J.P. Morgan; earlier he worked in operations and major projects at ExxonMobil and in field operations with Schlumberger. Represents Azimuth on boards including Nexaltis Minerals, PureVolt Energy Systems, Monolith and Steelhead LNG. Queen's BASc (Civil Engineering), Dalhousie MBA.
Partner and Chief Operating Officer
Leadership Team
Joined Azimuth in 2008 from a Canadian bank dealer, where he was a Managing Director of Global Investment Banking structuring equity financings; earlier he practised corporate, tax and securities law. Helps originate and execute new investments and sits on the Altex, Corex, Entrada and M-Flow boards. University of Alberta BSc, MBA and LLB.
Deputy Managing Partner
Leadership Team
Former President and CEO of Northrock Resources, previously a Unocal operating division, with earlier roles at Fletcher Challenge Canada, Amoco Canada and Dome Petroleum. Sits on Azimuth portfolio boards including Recover Energy Services, Altex Energy and Karve Energy, and is an independent director of Baytex Energy and Headwater Exploration.
Managing Director & Strategy Lead
Investment Team
Leads critical-minerals strategy and is CEO of Azimuth's Nexaltis Minerals platform. Previously Principal Advisor of Energy Technology at Hess and an energy-technology leader at Phillips 66, with more than 40 patents. Georgia Tech PhD in chemistry.
Managing Director
Investment Team
Previously VP Commercial at Steelhead LNG and COO of ACM LNG, overseeing commercial structuring, offtake and project finance. Earlier a business and legal adviser on energy joint ventures and renewables financings, qualified as a solicitor in Canada, England and Wales, and New York.
Executive Director
Investment Team
Evaluates investments and supports portfolio companies, including as Audit Committee Chair at Corex and board observer at Monolith and H Cycle. Previously at Nexen, CIBC World Markets equity research and FirstEnergy Capital investment banking. University of Alberta BComm (PRIME program), Queen's BSc Geology.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
May 19, 2026
Oil and gas assets of Entrada Resources Inc. near Rocky Mountain House, Alberta
Seller (via portfolio company) · Oil & gas / off-grid power for compute
Buyer New West Data Corp. · Seller Entrada Resources Inc. (Azimuth portfolio company)
Non-binding letter of intent for New West Data to buy Entrada's central Alberta production, about 3,500 boe/d, using stranded gas to power about 20 MW of additional compute. Azimuth would get the right to appoint two directors after closing, which was targeted for Q3 2026. Consideration was not disclosed.
Portfolio company Entrada signed an LOI to sell its central Alberta assets.
Posted an 8-month Calgary student analyst term starting September 2026.
No sourced people moves for this firm. BSO publishes a fact only once it can attribute it to a named source, so these stay off the page rather than being filled in from inference. If you know something published that belongs here, it is the fastest way to get it added.
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New West Data Corp. (GlobeNewswire) · May 19, 2026 · globenewswire.com
Azimuth Capital Management · Mar 10, 2026 · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
Azimuth Capital Management · Date unavailable · navigatingenergy.com
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Get your planInternship (8-month student term) · Calgary
8-month term with the investment team: industry analysis and financial modelling, maintaining energy-sector databases, evaluating investments and monitoring the portfolio. For students working toward, or recently finished, a finance, economics or engineering degree. Apply by email with a cover letter, resume and transcript in one PDF.
Typical background
GuidanceOne prior internship: a boutique bank, a small fund, transaction services, or a pension co-op.
Large-cap platforms and global multi-strategy funds
Upper mid-market PE, infrastructure, the Maple 8 and large managers
Mid-market PE, mid-sized managers, domestic hedge funds and smaller pensions
Azimuth Capital Management is hereSmall-cap private equity, boutique managers and early-stage VC
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