Английская Википедия:First Reserve Corporation
First Reserve Corporation is a private equity firm specializing in leveraged buyouts and growth capital investments in the energy sector. First Reserve was founded in 1984 and is the oldest and largest private equity fund dedicated to investments in the energy sector.
As of 2017, First Reserve had approximately 155 employees across three offices in Stamford, Connecticut, Houston, Texas and London.
Investments
The firm is currently investing out of its twelfth private equity fund First Reserve Fund XII LP, raised in 2008 with approximately $8.9 billion of investor commitments, which is the largest energy-focused fund raised to that point.[1] Fund XI was raised in 2006 with $7.8 billion of investor commitments. Fund XI was more than $5.5 billion larger (and three times the size) of Fund X which closed with $2.3 billion in 2004. First Reserve's fundraising has benefited from the recent focus on the energy industry in the broader market.
In 2008, First Reserve advanced its renewable energy investment program with the €261 million acquisition of Gamesa Solar. Additionally, First Reserve committed €600 million to form a European renewable energy group with the ability to deliver solar capacity of up to 400 MW in Southern Europe by 2012.[2] Among First Reserve's most notable transactions in the traditional energy sector include:
- PBF Energy, 2008[3]
- CHC Helicopter, 2008[4]
- Brand Services, 2007[5]
- Dresser-Rand, 2004[6]
- Pride International, 1999[7]
- Enterra Corporation, 1994[8]
Other notes
In September 2006, First Reserve Corporation Chairman and Chief Executive Officer William E. Macaulay donated $30 million to the City University of New York (the largest single donation in the history of CUNY) to endow The William E. Macaulay Honors College.
In 2002 affiliates of the company helped establish Alpha Natural Resources which has since become one of the largest US coal companies.
References
External links
- Шаблон:Official website
- First Reserve Corporation Profile BusinessWeek
- Dresser, Inc. profile Hoovers.com
- ↑ Taylor, James. "First Reserve raises record $8bn energy fund." DowJones Financial News, August 9, 2006.
- ↑ Arnold, Martin. "First Reserve to invest $940m in solar energy." Financial Times, April 28, 2008
- ↑ Шаблон:Cite news
- ↑ Шаблон:Cite web
- ↑ First Reserve Buys Infrastructure Services Co.Шаблон:Dead link Buyouts, January 22, 2007.
- ↑ Rozhon, Tracie. "Buyout Firm to Acquire Ingersoll-Rand Unit." The New York Times, August 26, 2004.
- ↑ Acquisition of the sixth-largest United States drilling company. "Company News; Pride to Sell Shares Worth $75 Million to First Reserve." The New York Times, May 6, 1999.
- ↑ "Company News; Enterra to Acquire Total Energy Services." The New York Times, April 19, 1994.
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