First Reserve promotes two to VP

First Reserve has promoted Paul Steen and Doug Vaccari to vice president. Both Steen and Vaccari joined the firm in 2011. The promotions became effective July 1.

leaving (2)

Posner to depart First Reserve

David Posner, who is responsible for First Reserve’s international fundraising activities and investor relations, is exiting the energy-focused private equity firm after more than three years.


First Reserve expands team with new hire

First Reserve has added Luke O’Keefe to its energy infrastructure team. Previously, O’Keefe worked at General Electric‘s energy financial services business where he served as vice president of technical risk.


BlackRock, First Reserve partner on Mexican natural gas pipeline deal

BlackRock and First Reserve have partnered with a subsidiary of Petroleos Mexicanos to buy about 45 percent of the equity interest in two natural gas pipelines — Los Ramones Phase II North and Los Ramones Phase II South. The pipelines are part of a project to build and operate natural gas pipelines to serve as energy infrastructure to transport natural gas from the Eagle Ford shale region in Texas to meet Mexican demand.

Krueger named Co-CEO of First Reserve

First Reserve said Monday that it named Alex Krueger as Co-Chief Executive Officer and President of the firm. William Macaulay becomes Chairman and now Co-CEO of First Reserve. Krueger has been with First Reserve for 16 years, most recently in a leadership role for the private equity portfolio. PeHUB reported news of the promotion on Friday.


First Reserve promotes two to MD

First Reserve has promoted Eduard Ruijs and Mark Saxe to managing directors. The appointments become effective January 1, 2015. Prior to joining the firm, Ruijs worked at NIBC Infrastructure Partners where he served as a investment director and partner while Saxe was a director in Loews Corp’s corporate development department.


First Reserve invests in Hoover

Hoover Container Solutions has received an undisclosed investment from First Reserve. Headquartered in Houston, Hoover is a provider of chemical tanks, cargo carrying units and related products and services to the global energy, petrochemical and related industrial sectors.

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