First Reserve promotes three

Two of the energy-focussed firm’s deal originators and a capital markets specialist have been promoted to director, as the firm continues to deploy capital from its $8 billion fund.

First Reserve Corporation has named as directors Rahman D’Argenio, Jeff Quake and Josh Weiner.
D’Argenio, who joined the energy-focussed firm from Deutsche Bank in July 2003, and Quake, who was hired from JPMorgan Partners in 2005, both focus on deal origination, structuring and monitoring. The power, energy-related financial services and infrastructure sectors are D’Argenio’s area of expertise, while Quake focusses on infrastructure and related sectors. 

Weiner, a capital markets specialist who joined First Reserve from Warburg Pincus in 2006, was also promoted to director. He helps guide the firm’s capital market activities both in existing portfolio companies and new investments. 

“Each of these executives has made an outstanding contribution to our strong growth in the global energy sector,” William Macaulay, First Reserve chairman and chief executive, said in a statement.

The 25-year old private equity firm is currently investing an $8 billion fund closed last year. Late last month, it agreed the largest private equity buyout ever accomplished in the drilling services industry and the first and largest European oil field services take-private, with its agreement to pay £906 million ($1.8 billion) for Abbot Group, a London Stock Exchange-listed oil services group.