Energy Capital hires First Reserve exec

The firm hired Rahman D’Argenio for its energy investment team in Short Hills, New Jersey. D’Argenio was previously a director at First Reserve.

Energy investor Energy Capital Partners has hired a First Reserve executive to join its energy investment team in New Jersey.

Rahman D’Argenio will be joining the private equity firm as a principal, Energy Capital said in a statement. He was previously a director at First Reserve Corporation, a Connecticut-based private equity firm that also invests in energy and infrastructure.

Energy Capital said D’Argenio will be responsible for making new investments as well as monitoring its existing portfolio companies. He will be based in Energy Capital’s Short Hills, New Jersey office.

D’Argenio’s hire comes on the back of some recent success on the fundraising front for Energy Capital. In July, the $11.4 billion Louisiana Teachers’ Retirement System gave the firm $100 million for its second fund, Energy Capital Partners II, targeting $3.5 billion. The investment came out of the pension’s “real assets” allocation for infrastructure and commodities investments.

Energy Capital invests in energy infrastructure assets such as power generation facilities, natural gas pipelines and electric transmission providers, according to its website.

The firm was founded by Doug Kimmelman, Scott Helm and Thomas Lane, all Goldman Sachs alumni, in 2005. It closed its first fund, Energy Capital Partners I, in 2007 on $2.25 billion.