First Reserve boosts PE and infrastructure teams

The energy specialist has announced promotions to its private equity and energy infrastructure teams.

First Reserve has promoted associate Paul Steen to vice president in its private equity business in Houston and Doug Vaccari as vice president in its energy infrastructure team based in Connecticut.

Steen joined the buyout firm four years ago after working as an analyst in Credit Suisse’s investment banking energy group. At First Reserve, Steen has worked in the firm’s core sectors of resources, equipment, services, midstream and downstream, and with several of the firm’s portfolio companies including Templar Energy, TPC Group, Cobalt International Energy and Brand Energy.

Vaccari also joined the private equity firm in 2011 after serving as an analyst in UBS’ investment banking unit. At First Reserve, his portfolio company experience spans Caliber Midstream Partners, First ECA Midstream, Fort Detrick Energy and Navigator Energy Services.

In June, First Reserve hired former GE energy financial services vice president and veteran energy executive Luke O’Keefe to its energy and infrastructure team. Last December, the firm named Eduard Ruijs and Mark Saxe managing directors in the infrastructure group.

The energy infrastructure team is investing from its 2014 vintage $2.5 billion Energy Infrastructure Fund II.