# BlackGold Capital Management

BlackGold Capital Management is a RIA based in Houston, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** Houston, United States
- **Region:** North America
- **Address:** Houston, TX, United States
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** blackgoldcap.com
- **LinkedIn:** https://www.linkedin.com/company/blackgold-capital-management

## Regulatory record

- **CRD number:** 139804
- **SEC file number:** 801-66438
- **Registration status:** Registered
- **Reports private funds:** Yes

## About

BlackGold Capital Management is an SEC-registered investment adviser in HOUSTON, TX, registered since 2006. The firm manages approximately $133 million in assets. It has 4 employees and 4 investment advisers.

## Sectors

- Energy Transition & Renewables
- Oil & Gas
- Minerals & Mining
- Manufacturing
- Logistics
- Private Credit
- Infrastructure

## People

- Erik Dybesland — Executive Management
- Adam Flikerski — Executive Management
- Shalin Patel — Executive Management
- Stephen Jones — Executive Management

## Questions

### Who runs investment decisions at BlackGold Capital Management?

BlackGold's website lists four principals under Executive Management: Erik Dybesland, Adam Flikerski, Shalin Patel, and Stephen Jones. The firm does not publish individual titles or an investment committee structure, but these four individuals appear to constitute the senior leadership team responsible for capital allocation.

### Which sectors does BlackGold Capital Management target?

The firm concentrates on energy and industrials, with explicit exposure to oil and gas, minerals and royalties, manufacturing, logistics, energy transition services, and private credit. Its portfolio spans upstream resource extraction through to industrial services and financial products serving the same sectors.

### How is BlackGold Capital Management related to KKR?

The firm's website states that KKR acquired an interest in BlackGold, though the date and size of the transaction are not disclosed. The relationship places a global private equity firm as a partial owner alongside the founding family, a structure that provides institutional capital and potential co-investment pathways while preserving operational independence.

## Related profiles

- [Black Swan Living](https://altss.com/profile/black-swan-living)
- [Blue Bridge Partners](https://altss.com/profile/blue-bridge-partners)

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Updated: 2026-07-06T01:24:12.510Z

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