First Reserve Corporation Promotes Christopher Ortega to Director

Greenwich, Conn.; Houston and London: January 26, 2009: First Reserve Corporation, the leading private equity firm specializing in the energy industry, today announced the promotion of Christopher Ortega to Director, as of January 1, 2009. Mr. Ortega is one of the firm’s 67 investment professionals whose expertise covers all of the sub-sectors of the energy industry, on a global basis.

 

Mr. Ortega joined First Reserve in 2007.  His responsibilities range from deal origination and structuring to due diligence, execution and monitoring with particular focus on the mining and oil field service sectors of the global energy industry.  Prior to joining First Reserve, Mr. Ortega was a Vice President at Greenhill Capital Partners.  He also previously worked at Lazard Frères & Co. in the Mergers and Acquisitions Department.  Mr. Ortega most recently worked on the DOF Subsea acquisition, which was closed last month, making it one of the few significant investments made by a buyout firm in the 4th quarter of 2008.

William E. Macaulay, Chairman and CEO of First Reserve Corporation, said, “Chris has been an integral member of our deal team and has played a meaningful role in First Reserve’s growth and success.  His outstanding contribution to the firm has helped First Reserve maintain the significant momentum that it has generated in the past.  Chris is a wonderful example of the high level of talent we have been able to attract and retain at First Reserve.”

 

Mr. Ortega holds an A.B. degree, Magna Cum Laude, in Social Studies from Harvard College. He also holds an M.B.A from Harvard Business School and a J.D., Magna Cum Laude, from Harvard Law School.