First Reserve Announces Passing of Founder and Chairman William “Bill” E. Macaulay

STAMFORD, Conn. and HOUSTON – December 2, 2019 – It is with great sadness that First Reserve today announced the passing of its founder and Chairman, William “Bill” E. Macaulay.

Alex T. Krueger, President & CEO, said, “Bill’s integrity, humility, drive and commitment have influenced and will continue to inspire all of us at First Reserve. He was a visionary for the firm, and the core values he lived by created the culture we have today. He was not only a leader, but a friend to the entire firm and we will continue to push forward in his memory and strive to meet the high standard he set for us. Bill’s contributions as a steadfast leader, mentor, teacher and brilliant investor were numerous, and he leaves behind a loving family, a remarkable professional career and an organization that reflects his vision and legacy.”

In Memoriam of William E. Macaulay

It is with deepest sadness that we mourn the passing of our founder, William “Bill” E. Macaulay.

After graduating from the City College of New York and receiving an M.B.A. from the Wharton School of Business, Bill spent 10 years with Oppenheimer & Co. Inc. At Oppenheimer, Bill served as Director of Corporate Finance and then assumed the role of General Partner, becoming a member of the Management Committee as well as President of Oppenheimer Energy Corporation.

In 1983, Bill founded First Reserve with John Hill with the vision of creating the first global private equity firm exclusively focused on energy. Over his more than three decades at the firm, Bill pioneered industry specialist private equity investing. As CEO, he expanded the firm’s focus and established a global reach – the impact of which has been felt broadly in the energy space through the establishment, growth and stewardship of some of the industry’s bellwethers.

Bill has served as Chairman of Weatherford International plc, CHC Group Ltd., Dresser-Rand Group, Inc., Foundation Coal Holdings Inc. and Pride International, and as a director of Dresser, Inc. Glencore and National Oilwell Varco.

Bill was committed to numerous charitable and educational organizations including his alma mater, the City University of New York. Bill was passionate about providing access to education for all and supported this goal through his commitment to the Honors College, which in 2006 was renamed the William E. Macaulay Honors College. Through his support, top students are given the financial and academic support to realize their full potential. This gift of a college education to so many will be one of Bill’s greatest legacies.

In addition to his work with the Honors College, he also served as Chairman and a member of the Board of Directors of The Rogosin Institute. Bill’s leadership and strategic guidance enabled Rogosin’s path of tremendous growth over the past decade, advancing its mission to provide the very best in care for people with kidney disease.

Bill is survived by his wife of 52 years, Linda, and their daughters Elizabeth and Anne and their families.

About First Reserve

First Reserve is a leading global private equity investment firm exclusively focused on energy. With over 35 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $32 billion of aggregate capital since inception. First Reserve has completed over 650 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the Firm’s history. Its portfolio companies have operated on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services, and associated infrastructure. Please visit for further information.

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