Energy Investors Funds, the first private equity company focused on the independent power and electric utility industry, has promoted Andrew Schroeder to senior partner.
Before joining EIF in 2001, Schroeder was team leader responsible for originating and managing relationships with US power and electric utility clients at Dresdner Kleinwort Wasserstein, an investment bank.
EIF also promoted Keith Derman to vice president from senior associate. Before joining EIF in 2005, Derman worked in several areas including M&A, trading and strategy within Public Service Enterprise Group, an energy and energy services company.
Founded in 1987, EIF is led by managing partners John Buehler Jr, Terence Darby and Herbert Magid. The firm closed its sixth fund, United States Power Fund II, at $750 million in November 2005. Its funds have made over 80 diversified investments with a combined underlying asset value exceeding $5 billion.