First Reserve promotes five

The energy-focused firm has named Jeffrey Quake as a managing director in Greenwich, and has promoted four other professionals to director.

Energy-focused private equity giant First Reserve has promoted five individuals on its investment team, including Jeffrey Quake, who has been named a managing director in the firm’s Greenwich office.

The four other investment professionals to be promoted to directors are Edward Bialas, Michael France, Dod Wales and Neil Wizel. Quake, who joined First Reserve in 2005, is responsible for investment origination, structuring, execution, monitoring and exit strategy, with a focus on the global equipment manufacturing and services sector. Prior to joining the firm, Quake was a member of the investment team at JP Morgan’s private equity fund for five years.

Bialas joined First Reserve in 2003 and focuses on the reserves and midstream sectors. His responsibilities include deal origination, structuring, due diligence, execution and monitoring. Bialas previously worked as an analyst at UBS Investment Bank in the financial sponsors group. He is based in First Reserve’s Greenwich office.

France joined the firm in 2007 and is responsible for deal origination, structuring, due diligence, execution and monitoring. He is focused on the reserves and midstream sectors. Prior to joining First Reserve, France was a vice president in the natural resources group at Lehman Brothers.

Wales joined First Reserve in 2004 and is responsible for deal origination, structuring, due diligence, execution and monitoring, with a particular focus on the equipment manufacturing and services sector. Prior to joining the firm, he was an analyst in the distressed finance and restructuring group at Credit Suisse First Boston. Wales is based in First Reserve’s Greenwich office.

Wizel joined First Reserve in 2007, and his responsibilities include deal origination, structuring, due diligence, execution and monitoring. Wizel focuses on the equipment manufacturing and services sector and the reserves sector. He previously worked at transportation-focused private equity firm Greenbriar Equity Group, and is based in First Reserve’s Houston office.

Last month, First Reserve agreed to sell its 80 percent stake in the Bahamas Oil Refining Company terminal for $1.36 billion to publicly traded Buckeye Partners, a Houston-based pipeline and energy specialist. The deal would give First Reserve nearly 7 million shares in NYSE-listed Buckeye Partners worth roughly $400 million.