Petroleum Equity has appointed former Riverstone Holdings associate Leonardo Adami to its senior investment team.
Adami worked previously at Barclays Natural Resource Investments alongside one of Petroleum Equity’s founding partners Daniel Reis, and then at oil and gas investment company Genel Energy from 2012-2013, according to his LinkedIn profile.
At Genel he helped build up the firm’s exploration and production business in the Kurdistan region of Iraq, Petroleum Equity said. Most recently Adami was at energy private equity firm Riverstone from 2013-2015.
Founded in 2012, Petroleum Equity is focused on upstream oil and gas investments in Europe, the Middle East and Africa, targeting investments of $100-200 million. The firm is expanding its investment and operational capabilities, it said.
In October the firm announced it was partnering with European exploration and production company Rohöl-Aufsuchungs Aktiengesellschaft (RAG) to create RAG Deutschland (RDG), a €300 million investment vehicle that will target onshore European upstream assets with a particular focus on Germany, as reported by Private Equity International.
The firm’s existing investments include in Alpha Petroleum, a UK North Sea operator with interests in four producing gas fields and two development assets.
In addition to Reis, Petroleum Equity’s other founding partners are its chairman Bernhard Schmidt, who was previously head of exploration and production at Winterstall, Arun Subbiah and Sven Tiefenthal.