About Us

Founded in 2006 and headquartered in Houston, TX, BlackGold is a KKR-backed holding company that invests in cash flow producing assets in a variety of businesses, across the entire capital structure. BlackGold has deployed over $8 billion of capital since inception.

Executive Management

Erik Dybesland, Managing Partner  |  Adam Flikerski, Managing Partner

Ownership

Erik Dybesland  |  Adam Flikerski  |  KKR & Co. (NYSE:KKR)
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Erik Dybesland

Managing Partner - 31 years experience
Erik Dybesland co-founded BlackGold Capital Management LP in 2006 and is a Managing Partner and Portfolio Manager, sharing all investment decisions and the day-to-day management of BlackGold. Mr. Dybesland serves on the Investment, Rick Management, and Valuation Committees. He has over 24 years of energy high yield, distressed, and equity experience. Mr. Dybesland was ranked the #1 High Yield Energy Research Analyst 8 of 9 successive years by Institutional Investor. Prior to BlackGold, he was a Managing Director at Lehman Brothers where he was responsible for analysis and proprietary energy investments. Prior to Lehman Brothers, he was a Managing Director at Deutsche Bank and a Senior Managing Director at Bear, Stearns & Co. Mr. Dybesland previously worked for Bankers Trust Securities and Howard Weil as an Oil Service Equity Analyst. Mr. Dybesland graduated from Tulane University with a BSM concentrating in Finance.
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Adam Flikerski

Managing Partner - 25 years experience
Adam Flikerski co-founded BlackGold Capital Management LP in 2006 and is Managing Partner and Portfolio Manager, sharing in all investment decisions and the day-to-day management of BlackGold. Mr. Flikerski serves on the Investment, Risk Management and Valuation Committees. He has over 19 years of energy credit investment, research and trading experience. Mr. Flikerski was named to Oil & Gas Investor’s “20 under 40” in Energy Finance in 2014. Prior to BlackGold, Mr. Flikerski served as a Senior Analyst at 3V Capital Management specializing in investments in oil & gas, metals & mining, chemicals and industrials. Prior to 3V Capital Management, Mr. Flikerski worked at Bear, Stearns & Co. in New York as a High Yield Energy Research Analyst. Promoted to Vice President at the age of 24, he was one of the youngest members of the firm to earn that title. Prior to Bear Stearns he was an Analyst in the Global Energy Investment Banking Group at Morgan Stanley & Co. Mr. Flikerski graduated with a Bachelor of Commerce degree from McGill University (graduating with Great Distinction in Finance), and earned an MBA from Harvard Business School.
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Shalin Patel

Director of Research - 15 years experience
Shalin Patel joined BlackGold Capital Management LP in 2010 and is the Director of Research, overseeing the research efforts of the investment team while covering the Midstream sector. Mr. Patel also serves on the Investment and Risk Management Committees. He has over 10 years of energy high yield, distressed, and equity experience. Prior to BlackGold, he was in graduate school at Tulane Universtiy. While at Tulane, he was the Associate Director of Research at Burkenroad Reports, an equity research program at Freeman School of Business. Prior to Tulane, he worked as an equity analyst at Khandwala Integrated Financial Services, a brokerage firm in India. Mr. Patel graduated from Tulane University with a MBA specializing in Finance and Energy and holds a BSM concentrating in Information Technology from Gujarat University.
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Stephen Jones

Operations Associate - 4 years experience
Stephen Jones joined BlackGold Capital Management LP in 2019 and is an Operations Associate responsible for covering middle and back office functions. Mr. Jones works closely with the firm's service providers and assists both the Investor Relations and Marketing teams. Prior to joining BlackGold, he was an Audit Associate for KPMG where he participated in the completion of integrated audits for publicly traded energy companies. Mr. Jones is a graduate from the Price College of Business at The University of Oklahoma with a B.B.A. in Accounting and a Master of Accountancy. Mr. Jones is in the process of becoming a registered Certified Public Accountant in the state of Texas.