Private equity energy giant First Reserve Corporation has announced the promotion of Alex Krueger to managing director.
He serves in First Reserve’s Greenwich, Connecticut-based headquarters.
Krueger joined the firm in 1999, after serving with the Donaldson, Lufkin & Jenrette in the energy group in the firm’s Houston office. He has been involved in each of the firm’s primary energy sectors: in the reserves area, he worked with Pine Mountain Oil & Gas; in oilfield service and energy infrastructure, with Dresser; and in energy infrastructure and power, with Chicago Bridge & Iron.
First Reserve is the largest and oldest private equity firm specialising in energy, and in addition to Greenwich, has offices in Houston and London. In January 2004, the firm closed its tenth fund dedicated to the energy sector on $2.3 billion, brining total capital under management to $4.7 billion in four active funds.
In September, First Reserve agreed to acquire Dresser-Rand from industrial conglomerate Ingersoll Rand for $1.2 billion (€990 million).