Investment Strategy

First Reserve's investment strategy has been refined through decades of investing exclusively in the energy industry. We focus on theme-based investments in core segments of the energy industry where our team has deep knowledge.

Private Equity Funds

First Reserve’s Private Equity Funds often invest with a growth equity strategy, seeking value creation through a “buy and build” model.  With a focus on aligning interests to achieve optimal risk-adjusted returns, we seek to back what we believe are industry-leading management teams.  The Private Equity Funds invest diversely across three core sectors:

  • Onshore / Offshore
  • Oil and Natural Gas exploration and production
  • Focus on lower-cost, unconventional opportunities
  • Often backing management teams repeatedly
  • Drilling and production
  • Manufacturing
  • Transportation and maintenance
  • Support of energy industry activity through utilization of technology and efficiency
  • Pipelines, gathering, processing
  • Shipping, storage, fabrication
  • Refining and petrochemical
  • Process and transport hydrocarbons from center of supply to center of demand

Energy Infrastructure Funds

First Reserve's Energy Infrastructure Funds target investments with contracted revenue, visible yield streams and long-term capital appreciation. These Funds aim to act as strategic partners to our corporate counterparties. The Energy Infrastructure Funds focus on four core investment sectors:

  • Conventional Generation
  • Renewable Generation
  • Long-term contracted pipelines, gathering, processing
  • Floating storage facilities
  • LNG facilities
  • Electrical transmission
  • Utilities

Raised approximately $31 billion of aggregate capital since inception