(Reuters) – Energy-focused private equity firm Riverstone Holdings listed a new energy investment vehicle in London on Thursday, raising 760.3 million pounds ($1.2 billion).
Riverstone Energy plans to invest in energy companies and assets worldwide, focusing on the exploration, production, storage and transportation of oil and gas.
The company, which had aimed to raise between 670 million pounds and 1.5 billion pounds in the offering, sold the shares at 10 pounds each. The stock opened flat on its market debut before falling 6 percent to 940 pence by 0717 GMT.
Riverstone Energy has a heavyweight board, including former BG chairman Robert Wilson as chairman and former BP Chief Executive John Browne as a director.
Goldman Sachs and JP Morgan ran the offering and acted as joint bookrunners with Deutsche Bank and Morgan Stanley.