New York-based Pine Brook is opening an office in Houston, Texas, according to a statement.
The office is Pine Brook’s first outside of New York will be staffed by Michael McMahon, a founding partner and managing director, senior advisors Richard Stoneburner and Martin Houston, and Claire Harvey, a vice president on the energy investment team. Pine Brook invests in the energy and financial services sectors. The firm’s Houston office will act as an additional base of operations for supporting the firm’s current and future energy investments in the region, including Common Resources III, Green Bancorp, GR Energy Services Holdings, Community Trust Financial and Stonegate Production Company.
“Having a permanent presence in Houston allows our investment teams to take an even more active role in a region where we see continued opportunity to make great business building investments,” William Spiegel, founding partner and managing director of Pine Brook’s financial services investment team, said in a statement.
Pine Brook closed its second fund, Pine Brook Capital Partners II, on $2.43 billion in February. The firm is also said to be looking at investments in the Canadian energy sector, having recently formed a “Team Canada” within its New York office to source opportunities there.
Pine Brook hired its 14th managing director in January, adding Guillermo Bron, chairman of the board of Pine Brook portfolio company, United PanAM, as a managing director on the firm’s financial services investment team.