Firms & Funds

Riverstone fundraiser Elizabeth Weymouth to leave firm

-
Riverstone Holdings, Elizabeth Weymouth, private equity
Photo of Elizabeth Weymourth courtesy of Riverstone Holdings
  • Weymouth joined Riverstone in 2007
  • She helped build firm’s LP relations, fundraising capabilities
  • Riverstone currently raising Fund VI with $8 bln target

Elizabeth Weymouth, a partner at Riverstone Holdings who leads fundraising efforts, is leaving the firm, two sources with knowledge of the situation told Buyouts.

When Weymouth will leave Riverstone is unclear. She still has an office and direct telephone line, and her email is still live. Jeffrey Taufield, a spokesman for Riverstone, declined to comment. Weymouth did not respond to a connection request over LinkedIn.

Weymouth joined Riverstone in 2007 and established the firm’s fundraising and investor relations capabilities, according to her LinkedIn profile. She led Riverstone’s efforts to raise $25 billion since she joined, her profile said.

Prior to Riverstone, Weymouth worked at JP Morgan from 1994 to 2007.

In 2014, Riverstone made a high-profile hire, bringing on Bob Brown as managing director focusing on LP relations and fundraising. Prior to Riverstone, Brown was head of LP relations at Advent International. It’s not clear if Brown will step into Weymouth’s role.

It’s also not clear how Weymouth’s departure could affect Riverstone’s fundraising for its sixth flagship pool, which has been in market since 2014. Riverstone Global Energy and Power Fund VI is targeting $8 billion and hit the halfway mark around summer 2015, according to a Form D filing at the time.

Since then, oil prices collapsed and oil and gas investments saw steep markdowns. Riverstone’s fifth fund, which closed on $7.7 billion in 2013, generated a negative 2.8 percent net internal rate of return and a 1x multiple as of March 31, 2016, California Public Employees’ Retirement System performance information shows. Fund V was Riverstone’s first independent fund raised after it separated from a partnership with Carlyle Group.

Riverstone/Carlyle Global Energy and Power Fund IV generated a 4.2 percent net IRR and a 1.1x multiple as of March 31, according to Carlyle.

Riverstone was formed in 2000 by David Leuschen and Pierre Lapeyre. The firm targets buyouts and growth investments in the exploration and production, midstream, oilfield services, power and renewable sectors. The firm managed about $21.6 billion as of Dec. 31, 2015, according to Riverstone’s Form ADV.

Action Item: Read Riverstone’s Form ADV here: http://bit.ly/2dQslVZ

Photo of Elizabeth Weymouth courtesy of Riverstone