First Reserve related stories
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PEI 300: chronicling the industry’s evolutionPEI’s proprietary ranking of the world’s largest private equity firms highlights a number of GPs and niche strategies attracting investor interest despite a general slowdown in fundraising post-financial crisis.
- First Reserve closes infra fund on $1.2bn
The US-based fund manager has closed its first energy infrastructure fund on $1.2bn after around 17 months on the fundraising trail. The fund had a target size of between $1bn and $1.5bn.
- First Reserve hires ex-Goldman exec for infrastructure
The firm has hired former Goldman executive Tim Vincent ahead of an expected final close on its infrastructure fund on more than $1bn.
- First Reserve deal spree continues with copper buyout
First Reserve Corporation, a specialist energy sector-focused buyout firm, has continued its dealmaking spree with the €670m acquisition of a European mining company.
- CalSTRS reviews cost of external managers
The $150bn pension will consider more opportunities for internal management of investment assets as it looks for ways to cut costs.
- PE giants sign on to ILPA principles
Pantheon, Apax, Oaktree, First Reserve, Warburg Pincus, Hellman & Friedman and Adveq are the latest firms to endorse the best practices guidelines put forth by the Institutional Limited Partners Association.
- First Reserve in €1.2bn power play
Energy-focused buyout firm First Reserve has taken a minority stake in Ansaldo Energia, a power plant division of aerospace and defense conglomerate Finmeccanica.
- Despite reduction, Oregon has billions for PE
Oregon’s public employees’ pension is reducing its commitment pace to private equity, but still has $2bn for the asset class this year.
- First Reserve to mine Asian deals from Hong Kong
Jamie Paton and Allen Gu, former senior executives at Candover Asia, will lead the energy investor's first Asian office.
- First Reserve in $3bn exit to GE
Dresser, which makes products like engines and fueling products, split from Halliburton in a 2001 buyout led by First Reserve. GE will integrate the business into GE Energy.