Wednesday, 1 October 2014
Last updated 5 min ago
Jun 21 2013 | 11:49am ET
Riverstone Holdings has raised $7.7 billion for its latest fund, its largest ever.
The energy-focused private-equity firm had sought $6 billion for its seventh fund. The vehicle is also the first Riverstone has raised independently of the Carlyle Group, which backed Riverstone's 2000 debut.
Riverstone Global Energy and Power Fund V has already invested $2.3 billion.
Riverstone's announcement comes four years after it was embroiled in a "pay-to-play" scandal at New York's main public pension fund. The firm was not accused of wrongdoing but paid $30 million to settle with the state. Co-founder David Leuschen also paid $20 million.
The scandal helped to cool Carlyle's ardor for Riverstone, according to The New York Times.
"Our model has always been to partner with proven management teams to jointly build companies from the ground up while focusing selectively on buyouts that offer great organic growth potential," Leuschen and co-founder Pierre Lapeyre said. "With this approach and the exceptional opportunities we are seeing, we believe Fund V is well-positioned to capitalize on the revolution that continues to unfold in the growing energy industry."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...