Tomas Ackerman, co-founder of Carnelian Energy Capital Management. See sector focus and contact routes.
Tomas Ackerman, co-founder of Carnelian Energy Capital Management, invests in lower-middle-market upstream exploration and production companies and midstream infrastructure assets in North American onshore basins, typically targeting enterprise values under $500 million with check sizes ranging from $25 million to $75 million. His distinctive thesis focuses on backing small, founder-operated energy companies during periods of institutional retrenchment from the sector, emphasizing a less competitive and less efficient market segment. Notable portfolio activity includes a 2024 private equity investment in Zavanna Energy and a 2024 exit of Ridgemar Energy, reflecting the firm’s 19 total investments and 4 exits in the energy sector.
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