Uptick In Chemical Deals Seen; Carlyle, Apollo Big Players

Financial and private equity investors Icahn Enterprises, Apollo Global Management, First Reserve and SK Capital ranked among the top 10 acquirers among the major 2012 deals in the chemical sector, according to a new survey flagging brisk activity in the sector.

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First Reserve, Beowulf Energy Team up in Caribbean

First Reserve‘s Energy Infrastructure Fund is teaming up with Beowulf Energy to invest in power generation and midstream assets in the Eastern Caribbean. First Reserve is buying from Beowulf an equity stake in Trinity Power Limited, a power generation facility in the Republic of Trinidad and Tobago. Specific financial details of the deal were not released. First Reserve’s Energy Infrastructure Fund closed in April 2011 with $1.23 billion in committed capital.

First Reserve Buys Portfolio from Arclight Capital

First Reserve Corp. is acquiring a portfolio of natural gas fired power generation plants from Arclight Capital, the firm announced Friday. Also, as part of the deal, the California Public Employees’ Retirement System will acquire the Neptune Regional Transmission System. First Reserve’s Energy Infrastructure Fund will take a controlling ownership position in the power portfolio, and CalPERS’ investment will result in direct ownership of 75% of the Class C shares of Neptune, the firm announced. Terms of the deal were not released.

First Reserve’s Saxon Merges with Schlumberger

SES Holdings (Saxon) has merged its rig business with the business of the Schlumberger Rig Management Group. As a result of the transaction, Saxon will continue to be owned by Schlumberger, affiliates of investment firm First Reserve Corporation and Saxon management. PRESS RELEASE SES Holdings Ltd. (“Saxon”) announced today that it has merged its rig […]

First Reserve, Renovalia Create $1B Wind Venture

Spain’s Renovalia Energy and private equity firm First Reserve are partnering on a venture to invest in wind farm projects across Europe and North America, Reuters reported Monday. First Reserve is putting $150 million of equity into the project. When leveraged, the venture could have roughly $1 billion for investments in renewable energy, Reuters wrote.

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First Reserve Bolsters Infrastructure Team

Investment firm First Reserve Corp. has added to its infrastructure team, naming Eduard Ruijs as a director and Ed Fidler as vice president. Both will be based in London. Ruijs joins from NIBC Infrastructure Partners. Fidler was previously associate director of Macquarie Capital Funds.

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