Apollo Global-led Group Inks $7.15 Bln Deal for El Paso Production Business

A group of investors led by Apollo Global Management has agreed to buy El Paso Corp.’s oil and gas exploration and production assets for about $7.15 billion. The deal is subject to the completion of the merger between Kinder Morgan and El Paso Corp., as well as other customary closing conditions. Other investors include Riverstone […]

Apollo, Riverstone Partner on $7B El Paso Deal

Private equity firms Apollo Global Management and Riverstone Holdings have teamed up to bid around $7 billion for all of El Paso Corp‘s exploration and production assets, Reuters wrote, citing people familiar with the matter. El Paso’s oil and gas assets include acreage in the Eagle Ford field of south Texas, one the most lucrative producing areas in the country, Reuters wrote.

Dynamic Offshore Files for $400M IPO

Dynamic Offshore Resources Inc, a private oil and gas company, filed with regulators to raise up to $400 million in an initial public offering of its common stock. The company received backing in 2008 from the Carlyle Group and Riverstone Holdings.

Riverstone Exits Titan in $775M Deal

Riverstone Holdings is selling well specialist Titan Group to British oil services firm Hunting in a $775 million deal, Reuters reported. Titan’s products and services are used to drill the horizontal wells that are used to pump oil and gas out of shale rocks, Reuters wrote.

AES Solar Wraps €68 Million Project Financing

AES Solar, the Virginia-based joint venture between AES Corporation and Riverstone Holdings LLC, just completed a €68 Million financing of a solar photovoltaic project in Italy. The solar power company also has more projects in Greece, France and Bulgaria.

Barra Energia Buys Shell’s 10% in Exploration Block off Brazil Coast

Barra Energia, the Brazilian oil and gas company based in Rio de Janeiro, has closed a deal to buy the remaining 10 percent of Royal-Dutch Shell‘s stake in a deep-water subsalt exploration block off Brazil’s coast. Shell said the sale was part of a previously announced reshuffle of its asset portfolio. It plans to continue investing in Brazil and expects […]

AES Solar Sets July Deadline for Asset Sale

AES Solar has set an end-of-July deadline for offers for the solar assets it plans to sell in Europe, Reuters reported. AES Solar is a joint venture between AES Corp. and private equity firm Riverstone Holdings. A sale of the assets – mainly in Italy and Spain – could fetch more than 600 million euros ($873 million), Reuters wrote.

Slideshow: 5 Top Strategic Buyers Of Sponsor-Backed Companies

Corporations and other strategic buyers are presenting buyout shops with serious competition in today’s heated market, but they’re also supplying a rich source of exits, according to the Buyouts cover story, published June 20. As of June 13, strategic buyers around the world bought 15,825 companies, including full or partial stakes, with a combined value […]

Kinder Morgan Planning to File for IPO

Private equity-backed pipeline company Kinder Morgan is expected to file terms for its initial public offering before U.S. markets open on Thursday, Reuters reported. The company is expected to file to sell shares for $26 to $29 each, and price the IPO on Feb. 10, Reuters said. Chief Executive Richard Kinder led a group of investors, including Goldman Sachs’ buyout fund, The Carlyle Group and Riverstone Holdings, in a 2007 deal to take the company private. Goldman Sachs and Barclays Capital are leading the underwriters on the Kinder Morgan offering, Reuters said.

GE Closes $3B Acquisition of Energy Co. Dresser

GE has closed its $3 billion acquisition of energy infrastructure and service provider Dresser Inc. The Addison, Texas-based company was owned by Riverstone Holdings LLC and First Reserve Corporation. First Reserve is an energy industry investor, while Riverstone Holdings is a PE firm focused on the energy and power sectors.

Riverstone Hldgs Makes Added Investment in Three Rivers Natural Resource

Riverstone/Carlyle Global Energy and Power Funds said an additional investment was made in Three Rivers Natural Resource Holdings LLC. Details of the investment were not disclosed. Three Rivers Natural Resource is a Austin, Texas-based upstream oil & gas company. Riverstone/Carlyle Global Energy and Power Funds is managed by Riverstone Holdings LLC of New York. Three Rivers also acquired assets in the Permian Basin of West Texas and Southeast New Mexico from Samson Resources and its affiliates.

Coda Holdings Raises $76M For Electric Cars

Electric car maker Coda Holdings has inked $76 million in financing from new investors Harbinger Capital Partners, billionaire Philip Falcone’s hedge fund, and private equity firm Riverstone Holdings, Reuters reported. The financing is designed to support production of its all-electric sedan, Reuters said.

Riverstone Holdings Aquires USA Compression Holdings

Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by buyout shop Riverstone Holdings, has acquired USA Compression Holdings. Financial terms of the deal were not disclosed. Formed in 1998, USA Compression provides natural gas compression services across the U.S. The company is based in Austin and Dallas. Riverstone Holdings has roughly $17 billion under management.

GE To Buy Dresser for $3 Billion

General Electric Co. has agreed to buy Dresser, a global energy infrastructure firm, for $3 billion. Addison, Texas-based Dresser is owned by Riverstone Holdings and First Reserve Corp. The deal includes all the Dresser businesses, a statement says. First Reserve is an energy industry investor, while Riverstone Holdings is a PE firm focused on the energy and power sectors.

Pattern Energy Buys Wind Farm from Babcock & Brown

Pattern Energy Group, a new renewable energy company backed by Riverstone Holdings, has acquired the 283 MW Gulf Wind Farm in Texas from Babcock & Brown. No financial terms were disclosed, except that debt financing was provided by Mizuho Corporate Bank, Banco Espirito Santo, Bayerische Landesbank, Commerzbank, HSH Nordbank and ING Capital LLC.

Another Pay-to-Play Resolution Falls Short

When does a $20 million fine not suffice as punishment for bad deeds? When you can: (a) Afford it; (b) It preempts you from facing criminal charges of bribing public pension officials; (c) That lack of charges lets you keep a high-paying job that may replenish your platinum coffers; and (d) You don’t have to admit to actually having committed any bad deeds.

Such is the situation in New York, where Riverstone Holdings co-founder David Leuschen agreed to pay $20 million “in restitution” for the benefit of the New York State Common Retirement Fund. This follows an earlier agreement whereby Riverstone agreed to pay $30 million.

What did Leuschen do wrong? Officially nothing. Sure he “invested” $100k into a straight-to-vid flick produced by the brother of NYCRF’s chief investment officer. And that chief investment officer did direct hundreds of millions of dollars in Riverstone funds (not to mention the whole Hank Morris placement agent and Alan Hevesi contribution angles). But so long as the check is big enough, Leuschen gets to avoid the prospect of a felony conviction that would allow – almost require – Riverstone LPs to remove Leuschen from the general partnership.

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