# White Deer

White Deer is a Private Equity based in Houston, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Houston, United States
- **Region:** North America
- **Address:** Houston, TX, United States
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** whitedeerenergy.com
- **LinkedIn:** https://www.linkedin.com/company/white-deer-energy

## Regulatory record

- **CRD number:** 161361
- **SEC file number:** 801-74249
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/161361

## About

White Deer is an SEC-registered investment adviser in Houston, TX, registered since 2012. The firm manages approximately $961 million in regulatory assets. It has 9 employees and 7 investment advisers.

## Sectors

- Energy Transition & Renewables
- Industrial Tech
- Infrastructure

## People

- Thomas J. Edelman — Chairman
- Ben A. Guill — Managing Partner

## Questions

### Who runs investment decisions at White Deer?

Managing Partner Ben Guill has led the firm's investment committee since the death of Chairman Thomas Edelman in 2018. Guill co-founded White Deer with Edelman after leading the energy investment banking practice at Royal Bank of Canada and holding senior roles at several energy-focused financial institutions. The investment team operates from Houston, with sector-specialist operating partners advising on individual portfolio company strategies.

### Does White Deer participate in fund commitments or only direct deals?

White Deer is a direct investor that structures control buyouts, growth equity, and turnaround transactions, not a fund of funds. The firm raises closed-end private equity vehicles from institutional limited partners and deploys the capital into portfolio companies where it takes active board roles. There is no indication that White Deer operates a separate fund-of-funds or LP commitment program.

### How did the death of co-founder Thomas Edelman affect the firm's investment strategy?

Thomas Edelman died in a cycling accident in 2018, a loss that removed one of the most connected energy financiers in North America from the firm he co-founded a decade earlier. Managing Partner Ben Guill assumed sole leadership of the investment committee. While the firm has not publicly altered its stated strategy in the years since, the succession concentrated decision-making under Guill and signaled a transition from the Edelman-era network-driven deal sourcing toward a more institutionalized process.

## Related profiles

- [Whitecap Venture Partners](https://altss.com/profile/whitecap-venture-partners)
- [White Fund](https://altss.com/profile/white-fund)

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Last updated: 2026-06-03T20:00:00.000Z

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