First Reserve makes raft of promotions

The US-based, energy-focused fund manager has promoted nine of its team, with five becoming managing directors. Three of the new MDs are based in London.

First Reserve Corporation, the Greenwich, Connecticut-based energy investment specialist which also has offices in Houston and London, has bolstered its senior ranks with nine promotions.

Out of five promotions to managing director, three – Francesco Giuliani, Neil Hartley and John Mogford – are in the London office.

Giuliani, a former senior executive with General Electric, and Hartley, a former investment banker with Simmons & Company, have both been at First Reserve for six years. Mogford, who spent 32 years at oil and gas giant BP, has been at the firm for the last three years.

Michael France becomes a managing director in Houston, having joined the firm five years ago from the investment banking division’s natural resources group at Lehman Brothers. Joshua Weiner steps up to managing director in Greenwich, Connecticut. He has been with First Reserve for six years, having joined from the capital markets group at private equity firm Warburg Pincus.

The Greenwich office also sees Ryan Shockley promoted to director and Matthew Raben to legal director; Gary Reaves becomes director in Houston; and Ryan Zafereo takes the same role in London.

In a statement, First Reserve chief executive William Macaulay said the promotions came on the back of “an active year in which we made significant advancements in our portfolio and successfully executed multiple strategic sales”.

First Reserve, which focuses exclusively on energy and natural resources, is currently investing a $9 billion private equity fund, which it closed in 2009, and its debut infrastructure fund, which it closed last year on $1.2 billion.