Kimmeridge Energy Management Company has named Mark Viviano as head of public equities. Previously, Viviano worked at Wellington Management.
NEW YORK and DENVER, February 7, 2020 – Kimmeridge Energy Management Company, LLC (“Kimmeridge” or the “Firm”), a private equity firm focused on upstream energy, today announced that Mark Viviano has joined the Firm and is expected to lead a new investment strategy focused on equity underperformance in the public E&P space. Public E&P companies have suffered from mismanagement and a focus on growth that is inappropriate considering global demand growth expectations and the upcoming energy transition. E&P companies should instead seek to return capital to investors through sustainable dividends and buybacks.
Mr. Viviano’s experience as a public energy investor, including the past 17 years at Wellington Management Company, will strengthen Kimmeridge’s capabilities in this area. Mr. Viviano also brings longstanding relationships with E&P management teams, public energy investors, and index funds.
Ben Dell, Founder and Managing Partner of Kimmeridge, said, “We are delighted to welcome Mark to Kimmeridge at this critical juncture for the E&P sector. Mark has distinguished himself in the asset management and energy industries, as a highly regarded analyst and portfolio manager. His expertise will complement our team and he will be instrumental to the Firm as we further our unique capabilities in activism and the public equity space.” Mr. Dell continued, “Since Kimmeridge’s founding in 2012, we have assembled a best-in-class team of professionals with deep buy-side, sell-side, activism and operational expertise.”
Mark Viviano, Head of Public Equities at Kimmeridge, said, “Many public E&Ps possess low cost assets that have the potential to generate meaningful cash flow, yet they continue to see their stock price and operational performance deteriorate, while believing that the cause of this disparity is dislocation in commodity pricing. However, the systemic problems within the industry are most notably misguided capital allocation and the misalignment of management incentives.”
Mr. Viviano continued, “I’ve worked tirelessly to engage with public CEOs and boards of directors in order to help evolve the E&P business model, but the results have been far too slow and incremental for the crisis of confidence at hand. The sector is in dire need of a dedicated activist approach, which Kimmeridge and I are uniquely positioned to launch. Our shared mission is to help reposition the industry for the energy transition, restore it to profitability and make it investable again.”
Mark Viviano’s Bio:
Mr. Viviano has spent the majority of his professional career at Wellington Management, including over 15 years investing in the energy sector. Most recently, he served as Managing Director, Global Industry Analyst (E&P) and Portfolio Manager (energy & natural resources). In that role, he was responsible for firm-wide equity research coverage of the North American and International E&P sectors, and was co-portfolio manager for the Global Natural Resources and the Select Energy Opportunity strategies. Mr. Viviano is a CFA charterholder and received a M.S. in Investment Management from Boston University and a B.A. in Economics from Hamilton College.
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is a private equity firm focused on making direct investments in unconventional oil and gas assets in the U.S. The Firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management and proprietary research and data gathering. In addition to its New York headquarters, Kimmeridge maintains a fully-staffed, in-house operating and geology team in Denver, with experience across all major upstream functions and disciplines.