Riverstone Closes Latest Fund at $7.7 Billion
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Riverstone Closes Latest Fund at $7.7 Billion

Riverstone has closed its latest private equity fund, Riverstone Global Energy and Power Fund V, L.P. (“Fund V”), with total commitments of $7.7 billion. Fund V’s original target was $6 billion.

Fund V will pursue the same investment strategy that Riverstone was founded on 13 years ago and has followed ever since—building energy and power businesses around the world in partnership with management. So far, Fund V has invested $2.3 billion in 19 companies, including eight repeat management teams.

“We are extremely pleased with the reception of our latest private equity fund, and we are grateful for the continued loyal support of our investing partners,” said David Leuschen and Pierre Lapeyre, Jr., Co-Founders of Riverstone, in a released statement. “We believe this reflects Riverstone’s consistent, long-term performance and our specialization in four critical sectors of the energy industry: exploration & production, midstream, energy services, and power. 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. 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.”

Riverstone Holdings has approximately $25 billion of capital under management across seven investment funds. Riverstone invests in midstream, exploration & production, oilfield services, power and renewable sectors of the energy industry. The firm was founded in 2000 and has offices in New York, Houston and London (www.riverstonellc.com).

“Investors are the lifeblood of our business. By providing global and diversified exposure to the energy industry while maximizing risk-adjusted returns, Riverstone strives to help our limited partners meet their investment objectives,” said Elizabeth Weymouth, Partner responsible for capital raising and investor relations at Riverstone. “With Fund V, we have been fortunate to build upon our existing relationships with many of the world’s leading investors while significantly expanding our limited partner base with new strategic investment partners. We look forward to growing all of these relationships in the future.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-20-13

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