First Reserve loses director amid fundraise

Anastasia Deulina has joined oil and gas royalty company FlowStream Commodities.

Former First Reserve Corporation director Anastasia Deulina has left the firm to join FlowStream Commodities as chief commercial officer, according to Deulina’s LinkedIn profile.

First Reserve declined to comment.

FlowStream is a Switzerland-based royalty company focused on the oil & gas sector. Deulina will work from the company’s UK office, according to her LinkedIn profile. Her departure comes as First Reserve targets $5 billion for its Fund XIII, which launched last year, according to Private Equity International’s Research and Analytics division.

Deulina joined First Reserve to focus on the energy industry in 2007 and was promoted to director in 2010, according to a prior statement. Her responsibilities included deal origination and structuring, due diligence, execution and monitoring. She was previously a vice president at Goldman Sachs and at Merrill Lynch, according to her LinkedIn profile, and also worked at the World Bank Moscow Resident Mission and the All-Russian Foreign Trade Academy.

FlowStream was founded by former Goldman Sachs managing director Jan Laubjerg and former Lehman Brothers executive Ben Iversen.

Greenwich, Connecticut-based First Reserve makes investments in the energy industry, spanning oil and gas exploration and production, refining and processing and transportation and storage. The firm has raised more than $26 billion of capital since inception, according to its website.