Founders and
Investment Team

Alex T. Krueger

President & CEO
Stamford

Alex T. Krueger, President and Chief Executive Officer, joined First Reserve in 1999 (previously, he served as Co-Chief Executive Officer from 2015-2017). Mr. Krueger is responsible for the overall management of the firm and sits on the Private Equity Funds’ Investment Committee, which is responsible for the supervision of the Firm’s investment program and strategy. Mr. Krueger also is responsible for the development and management of the Private Equity investment team. In addition, he maintains responsibilities for investment origination, structuring, execution, monitoring and exit strategy across the global energy industry, with particular expertise in the natural resources upstream sector. Prior to joining First Reserve, Mr. Krueger worked in the Energy group of Donaldson, Lufkin & Jenrette in Houston. Mr. Krueger holds two B.S. degrees from the University of Pennsylvania.

William E. Macaulay

Chairman
Stamford

William E. Macaulay, Chairman, has been with the firm since its founding in 1983 (previously, he served as Chief Executive Officer from 1983-2015 and Co-Chief Executive Officer from 2015-2017). Mr. Macaulay sits on the Private Equity Funds’ Investment Committee, which is responsible for the supervision of the Firm’s investment program and strategy. Mr. Macaulay also sits on the Debt Funds investment committee, responsible for First Reserve’s credit investing activities, and sits on the board of IOG Resources, LLC, the sole portfolio investment of FR IOG Resources, a First Reserve vehicle formed to invest in non-operated E&P working interests in North America. Mr. Macaulay is also a member of the Investment Advisory Committee of BlackRock Global Energy & Power Infrastructure Funds I and II, an investment screening committee for the investment funds formerly known as the First Reserve Energy Infrastructure Funds and a member of the Investment Committee of BlackRock Global Energy & Power Infrastructure Fund III.  Prior to acquiring First Reserve with Mr. Hill in 1983, Mr. Macaulay was a co-founder of Meridien Capital Company, a private equity buyout firm. From 1972 to 1982, Mr. Macaulay was with Oppenheimer & Co., Inc., where he served as Director of Corporate Finance with responsibility for investing Oppenheimer’s capital in private equity transactions. At Oppenheimer, he also served as a General Partner and member of the Management Committee of Oppenheimer & Co., as well as President of Oppenheimer Energy Corporation. He was the founder and largest stockholder of Peppermill Oil Company. Mr. Macaulay holds a B.B.A. from City College of New York and an M.B.A. from the Wharton School of the University of Pennsylvania, where he also has served as a member of the Executive Board. Additionally, he is Chairman of Weatherford International plc and also Chairman of the Macaulay Honors College of the City University of New York. Mr. Macaulay has also received a Doctor of Humane Letters (DHL) honorary degree from Baruch College.

Edward T. Bialas

Managing Director
Houston

Edward T. Bialas, Managing Director, joined First Reserve in 2003 as an Associate and returned to First Reserve as a Vice President in 2007 after earning his M.B.A.  Mr. Bialas’ responsibilities include investment origination, execution and exit, focusing on the equipment, manufacturing, and services sectors.  He is also responsible for the firm’s fund raising and investor relations activities.  Prior to joining First Reserve as an Associate, he was an Analyst at UBS Investment Bank in the Financial Sponsors Group. Mr. Bialas holds an A.B. from Dartmouth College and an M.B.A. from Harvard Business School.

Neil J. Hartley

Managing Director
London

Neil J. Hartley, Managing Director, joined First Reserve in 2006. Mr. Hartley’s responsibilities include investment origination, execution and exit, focusing on the global energy equipment, manufacturing and services sector. Prior to joining First Reserve, he spent six years in Investment Banking with Simmons & Company International, most recently as a Director, where he focused on corporate finance advisory work in the energy sector. Prior to joining Simmons & Company, he was a Management Consultant at McKinsey & Company, Inc. He also spent seven years with Schlumberger, most recently as a Field Service Manager and Field Engineer. Mr. Hartley holds an M.A. from Worcester College, University of Oxford and an M.B.A. from Harvard Business School.

John A. Hill

Managing Director
Stamford

John A. Hill, Managing Director, has been with the firm since its founding in 1983. Mr. Hill serves as a senior advisor on investments, investment origination, investor relations and government policy liaison. Prior to acquiring First Reserve with Mr. Macaulay in 1983, Mr. Hill was a co-founder of Meridien Capital Company, a private equity buyout firm. From 1976 to 1981, he served as Senior Vice-President of F. Eberstadt & Co., Inc., an investment banking, research and institutional brokerage firm, as President and Chief Executive Officer of Eberstadt Asset Management and as founding Chairman of the Board of the Eberstadt Energy Fund. Prior to 1976, Mr. Hill spent seven years in the U.S. Federal Government as Deputy Associate Director of the Office of Management and Budget and subsequently as Deputy Administrator of the Federal Energy Administration during the Ford Administration. Mr. Hill previously served as the Chairman of the Board of Trustees of Sarah Lawrence College and as a Trustee of the Putnam Mutual Funds (where he served as former Chairman from 2000 to 2011), as well as Lead Director of Devon Energy Corporation.  Mr. Hill holds a B.A. from Southern Methodist University and an honorary Doctor of Philosophy degree from Bethel College.

Will Honeybourne

Managing Director
Houston

Will Honeybourne, Managing Director, joined First Reserve in 1999. Mr. Honeybourne’s responsibilities include investment origination, execution and exit strategy, focusing on the global energy equipment, manufacturing and services sector, upstream oil and gas and international markets. Prior to joining First Reserve, he served as Senior Vice President of Western Atlas International. Prior to that time, he served as President and Chief Executive Officer of Alberta-based Computalog. His earlier career was primarily with Baker Hughes, including positions as Vice President and General Manager at INTEQ and President of EXLOG. In addition to current and previous service on the boards of various oilfield services and E&P portfolio companies in the U.S., U.K., Canada, Singapore, and Brazil, Mr. Honeybourne served as a Director of Hong Kong listed CNOOC Ltd. Mr. Honeybourne holds a B.Sc. from Imperial College, London University, and is a member of the Society of Petroleum Engineers and the Society of Exploration Geophysicists.

Jeffrey K. Quake

Managing Director
Stamford

Jeffrey K. Quake, Managing Director, joined First Reserve in 2005. Mr. Quake’s responsibilities include investment origination, execution and exit strategy, focusing on the global energy equipment manufacturing and services sector. Prior to joining First Reserve, he was a member of the investment team at J.P. Morgan’s private equity fund for five years. Prior to J.P. Morgan, he was a member of the Corporate Finance team at Lehman Brothers, Inc. Mr. Quake holds a B.A. from Williams College and an M.B.A. from Harvard Business School.

Gary D. Reaves

Managing Director
Houston

Gary D. Reaves, Managing Director, joined First Reserve in 2006. Mr. Reaves’ responsibilities include investment origination, execution and exit, focusing on midstream assets and the equipment, manufacturing and services sectors. Prior to joining First Reserve, he was an Analyst in the Global Energy Group at UBS Investment Bank. He also spent time as an Analyst in Financial Advisory Services for Howard Frazier Barker Elliott, Inc. Mr. Reaves holds a B.B.A. from the University of Texas.

Claudi Santiago

Managing Director
London

Claudi Santiago, Managing Director, joined First Reserve in 2012. Mr. Santiago’s responsibilities include investment origination and monitoring, focusing on the global energy equipment, manufacturing and services sector. Prior to joining First Reserve, he had over 30 years of experience with General Electric, most recently as President and CEO of GE Oil & Gas, a $15 billion revenue oilfield service business that now includes Dresser, Inc., a former portfolio company of First Reserve. Mr. Santiago holds a Master’s degree from the Universidad Autonoma of Barcelona and has completed postgraduate studies at INSEAD in Fontainebleau, Georgetown University and Harvard Business School.

Alan G. Schwartz

Managing Director
Stamford

Alan G. Schwartz, Managing Director, joined First Reserve in 2006. Mr. Schwartz’s responsibilities include investment origination, due diligence review, negotiation of deal documentation, portfolio monitoring and exit strategy. Prior to joining First Reserve, he spent seventeen years at Simpson Thacher & Bartlett LLP where, as a Partner in the firm’s Corporate Department, he concentrated primarily in mergers and acquisitions and leveraged buyouts. He was also a member of the firm’s Energy Practice Group. Mr. Schwartz holds a B.S. from the University of New Hampshire and a J.D. from Fordham Law School.

Brooks Shughart

Managing Director
Houston

Brooks M. Shughart, Managing Director, joined First Reserve in 2012. Mr. Shughart’s responsibilities include investment origination, execution and exit, focusing on the reserves sector. Prior to joining First Reserve, he was a Director in the Mergers and Acquisitions Group for Credit Suisse. Prior to Credit Suisse, he held positions in the energy groups of Lazard Freres and Donaldson, Lufkin & Jenrette/CS First Boston. Mr. Shughart holds a B.B.A. from The University of Texas.

Joshua R. Weiner

Managing Director
Stamford

Joshua R. Weiner, Managing Director, joined First Reserve in 2006. Mr. Weiner is responsible for directing First Reserve’s capital markets activities both in existing portfolio companies and with regard to new acquisitions as well as the Firm’s credit investing activities. Prior to joining First Reserve, he was an Associate in the Capital Markets Group at Warburg Pincus LLC. Prior to that, he was an Associate with Morgan Stanley in the Global Capital Markets and Global Leveraged Finance groups. Mr. Weiner holds a B.A. from Bowdoin College.

Neil A. Wizel

Managing Director
Houston

Neil A. Wizel, Managing Director, joined First Reserve in 2007. Mr. Wizel’s responsibilities include investment origination, execution and exit, focusing on the energy value chain, including reserves; equipment, manufacturing, and services; and downstream and hydrocarbon processing assets. Prior to joining First Reserve, he was a member of the Investment Staff at Greenbriar Equity Group, a transportation–focused private equity firm. Prior to Greenbriar, he was a Financial Analyst in the Leveraged Finance/Financial Sponsor Group at Credit Suisse First Boston. Mr. Wizel holds a B.A. from Emory University.

William R. Brown

Director
Houston

William R. Brown, Director, joined First Reserve in 2006 as an Associate and returned to First Reserve as a Vice President in 2010 after earning his M.B.A. Mr. Brown’s responsibilities include investment origination and structuring, due diligence, execution and monitoring, with particular emphasis on the equipment, manufacturing and services sectors. Prior to joining First Reserve as an Associate, he was an Investment Banking Analyst for Banc of America Securities LLC. Mr. Brown holds a B.S. from Duke University and an M.B.A. from Columbia Business School.

Jesse Krynak

Director
Houston

Jesse Krynak, Director, joined First Reserve in 2010. Mr. Krynak’s responsibilities include investment origination and structuring, due diligence, execution and monitoring, with particular emphasis throughout the energy value chain. Prior to joining First Reserve, he was a Financial Analyst in the Global Energy Investment Banking Division at Credit Suisse. Prior to Credit Suisse, he was a Financial Analyst at The Boeing Company. Mr. Krynak holds a B.S. from Pepperdine University and a M.A. from the University of Southern California.

Michael A. Scardigli

Director
Stamford

Michael A. Scardigli, Director, joined First Reserve in 2008 as an Associate and returned to First Reserve as a Vice President in 2012 after earning his M.B.A. Mr. Scardigli’s responsibilities include investment origination and structuring, due diligence, execution and monitoring, focusing on the equipment, manufacturing and services sector. Prior to joining First Reserve, he was an Analyst in the Mergers and Acquisitions Group in the Investment Banking Division at Citigroup. Mr. Scardigli holds a B.A. from Georgetown University and an M.B.A. from the Wharton School of Business.

Paul J. Steen

Director
Houston

Paul J. Steen, Director, joined First Reserve in 2011. Mr. Steen’s responsibilities include investment origination and structuring, due diligence, execution and monitoring, with expertise throughout the energy value chain. Prior to joining First Reserve, he was an Analyst in the Investment Banking Division, Global Energy Group, at Credit Suisse. Mr. Steen holds a B.B.A. from Texas A&M University.

Juan Diego Vargas

Director
Houston

Juan Diego Vargas, Director, joined First Reserve in 2007 as an Associate and returned to First Reserve as a Vice President in 2012 after earning his M.B.A. Mr. Vargas’ responsibilities include investment origination and structuring, due diligence, execution and monitoring, focusing on the equipment, manufacturing and services sector, as well as the resources sector. Prior to joining First Reserve, he was an Analyst in the Financial Sponsors and Latin America Groups at Morgan Stanley. Mr. Vargas holds a B.B.A. from the University of Notre Dame and an M.B.A. from London Business School.

Ryan N. Zafereo

Director
London

Ryan N. Zafereo, Director, joined First Reserve in 2005. Mr. Zafereo’s responsibilities include investment origination and structuring, due diligence, execution and monitoring, focusing on the natural resources industry and energy equipment and services. Prior to joining First Reserve, he was an Investment Banking Analyst for Simmons & Company International, a premier investment banking firm specializing in the energy services market. He also spent time as a Private Wealth Management Analyst for Goldman, Sachs & Co. Mr. Zafereo holds a B.B.A. from the University of Texas.

Thomas S. Amburgey

Vice President
Houston

Thomas S. Amburgey, Vice President, joined First Reserve in 2012. Mr. Amburgey’s responsibilities include investment origination and structuring, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Analyst in the Financial Sponsors and Leveraged Finance division at UBS Investment Bank. Mr. Amburgey holds a B.B.A. and a Master of Accountancy from the University of Georgia.

Matthew R. Clayton

Vice President
Houston

Matthew R. Clayton, Vice President, joined First Reserve in 2014. Mr. Clayton’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst in the Energy Group at Greenhill & Co. Mr. Clayton holds a B.B.A. from the University of Texas at Austin.

Yuri C. Larrabee

Vice President
Stamford

Yuri C. Larrabee, Vice President, joined First Reserve in 2013. Mr. Larrabee’s responsibilities include include investment origination and structuring, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Analyst in the Global Energy Group, Investment Banking Division, at Credit Suisse. Mr. Larrabee holds a B.A. from Princeton University.

Sarosh G. Nentin

Credit Vice President
Stamford

Sarosh G. Nentin, Credit Vice President, joined First Reserve in 2017. His responsibilities include investment origination and structuring, due diligence, execution and monitoring. Prior to joining First Reserve, he was a Vice President in the Investment Banking Division – Power & Renewables at Credit Suisse. Prior to that, he was an Associate with CIBC World Markets Corp. in the Project Finance & Infrastructure group. He also served as an Associate and Analyst in the Power & Renewables Group at Dexia Global Structured Finance, LLC and as an Analyst in the Corporate Finance Group at FTI Consulting Inc.  Mr. Nentin holds a B.S. from Boston College and an M.B.A. from New York University.

Carolina Sierra

Vice President, Technical
Houston

Carolina Sierra, Vice President, Technical, joined First Reserve in 2019. Ms. Sierra’s responsibilities include due diligence and monitoring – with a technical reservoir perspective in upstream- and midstream-related investments and early theme and trend identification throughout the energy value chain. Prior to joining First Reserve, she was an Associate at Guggenheim Partners in the E&P Asset Acquisitions & Divestitures practice. Prior to Guggenheim, she worked for BP as a Reservoir Engineer and Schlumberger as a Drilling and Field Engineer. Ms. Sierra holds a B.S.E. from the University of Michigan and an MSc from Delft University of Technology.

Trevor B. Tamlyn

Vice President
Houston

Trevor B. Tamlyn, Vice President, joined First Reserve in 2014. Mr. Tamlyn’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst on the Global Natural Resources team at Barclays. Mr. Tamlyn holds a B.B.A. from the University of Texas.

Kerem C. Yilmaz

Vice President
London

Kerem C. Yilmaz, Vice President, joined First Reserve in 2013. Mr. Yilmaz’s responsibilities include investment origination and structuring, due diligence, execution and monitoring. Prior to joining First Reserve, he worked for middle market private equity firms in Turkey, including Pera Capital Partners and HSBC Principal Investment. He also spent two years as an Associate in the M&A department of Ernst & Young. Mr. Yilmaz holds a B.S. from the Bilkent University and an MBA from INSEAD.

Preston M. Burkett

Associate
Houston

Preston M. Burkett, Associate, joined First Reserve in 2016. Mr. Burkett’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Analyst in the Global Natural Resources Group at Barclays Capital. Mr. Burkett holds a B.B.A. from the University of Texas at Austin. 

John W. Byers, IV

Associate
Houston

John W. Byers IV, Associate, joined First Reserve in 2017. Mr. Byers’ responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst at Simmons & Company International. Mr. Byers holds a B.S. from Duke University.

Adriano Casale

Associate
London

Adriano Casale, Associate, joined First Reserve in 2016. Mr. Casale’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Associate in the EMEA Alternative Assets Group at Citigroup. Mr. Casale holds a B.S. from the University of Warwick.

Michael D. Cramer

Associate
Houston

Michael D. Cramer, Associate, joined First Reserve in 2017. Mr. Cramer’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Analyst in the Investment Banking Division, Global Natural Resources Group at Barclays Investment Bank. Mr. Cramer holds a B.B.A. from The University of Texas at Austin.

Wesley Fischer

Associate
Houston

Wesley Fischer, Associate, joined First Reserve in 2017. Mr. Fischer’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst at Morgan Stanley. Mr. Fischer holds a B.B.A. from The University of Texas at Austin.

Jake Hutcherson

Associate
Houston

Jake Hutcherson joined First Reserve in 2019. Mr. Hutcherson’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst at Simmons & Company International. Mr. Hutcherson holds a B.S. from the University of Virginia.

Nick Lednicky

Associate
Houston

Nick Lednicky joined First Reserve in 2019. Mr. Lednicky’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst at Barclays. Mr. Lednicky holds a B.B.A. from The University of Texas at Austin.

Jonathan T. Lee

Associate
Stamford

Jonathan T. Lee, Associate, joined First Reserve in 2017. Mr. Lee’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst in the Global Industrials Group at Credit Suisse. He also spent one year as an Investment Banking Analyst in the Mergers & Acquisitions Group / Restructuring at Oppenheimer & Co. Mr. Lee holds a B.A. from The Johns Hopkins University.

Patrick E. McEnery

Credit Analyst
Stamford

Patrick McEnery, Credit Analyst, joined First Reserve in 2017. His responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Associate in the Private Credit Group at Sound Harbor Partners.  He also spent three years as an Analyst in the Healthcare Investment Banking Group at Hammond Hanlon Camp.  Mr. McEnery holds a B.E. (Bachelor of Civil Engineering) from Vanderbilt University.

Stephen Modory

Associate
Houston

Stephen Modory, Associate, joined First Reserve in 2018. Mr. Modory’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Analyst at Barclays Investment Bank. Mr. Modory holds a B.B.A. from The University of Texas at Austin. 

Ryan Nicholson

Associate
Houston

Ryan Nicholson joined First Reserve in 2019. Mr. Nicholson’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he worked as a Financial Analyst at ExxonMobil Corporation and was most recently an Investment Banking Analyst at Citigroup Global Markets. Mr. Nicholson holds a B.B.A. from Southern Methodist University.

Blake H. Seline

Associate
Houston

Blake H. Seline, Associate, joined First Reserve in 2016. Mr. Seline’s responsibilities include financial modeling, due diligence, execution and monitoring. Prior to joining First Reserve, he was an Investment Banking Analyst in the Global Natural Resources Group at Morgan Stanley. Mr. Seline holds a B.B.A. from the University of Texas at Austin.