First Reserve Closed Largest-Ever PE Fund Focused On Global Energy

Sep 8 2006 | 12:00am ET

 Private equity firm First Reserve Corporation, which specializes in the energy industry, has closed its latest global private-equity fund, First Reserve Fund XI, with commitments of $7.8 billion. Fund XI is the largest fund ever raised by the firm, which claims that it is the largest of its kind focused exclusively on the global energy industry.

First Reserve has raised more than $12.7 billion for its private-equity buyout-focused funds.

Fund XI’s primary focus is expected to be on equipment, manufacturing and service companies that will benefit from increasing energy infrastructure spending as well as infrastructure assets. The firm’s previous fund, First Reserve Fund X, has $2.3 billion in commitments and is expected to be fully committed at the beginning of the fourth quarter.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of