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ArcLight co-founder steps back from daily responsibilities: updated

  • Robb Turner co-founded ArcLight in 2001
  • Firm sold minority stakes late last year
  • ArcLight closed Fund VI on about $5.6 bln

Robb Turner, a co-founder and senior partner of ArcLight Capital Partners, stepped back from daily responsibilities recently and moved into a senior advisory role, according to an email seen by Buyouts.

Update: Turner is forming investment firm Madava Asset Management with former Blackstone Group hedge fund executive Beau Taylor, according to a Reuters article from earlier this month. The article said Turner sold out of his interest in ArcLight earlier this year to Goldman Sachs’s Petershill Fund II and Wafra Investment Advisory Group.

Turner did not respond to email requests for comment. Matt Nelson, managing director in investor relations at ArcLight, declined to comment.

Turner and Daniel Revers co-founded ArcLight in 2001. Revers remains a managing partner at the Boston firm. Revers is the “indirect principal beneficial owner” of ArcLight, the firm’s Form ADV shows.

Prior to ArcLight, Turner founded Berenson Minella & Co’s energy advisory practice, ArcLight’s website says. From 1990 to 1998, he held senior roles at Smith Barney, Schroders, Wasserstein Perella and Kidder Peabody.

ArcLight closed its sixth flagship energy fund in 2015 on about $5.6 billion, beating its $4 billion target and initial $5 billion hard cap, the firm said at the time. ArcLight raised $3.3 billion for Fund V in 2011.

Update: This article was updated with additional information about Robb Turner’s ownership stake in ArcLight. 

Action Item: ArcLight’s Form ADV: http://bit.ly/2lLQYcI

A Nissan Motor worker, on July 2, 2011, looks at a cogeneration system, which captures and utilizes the heat produced when generating electricity, at the Oppama plant in Yokosuka, south of Tokyo. Photo courtesy Reuters/Yuriko Nakao