First Reserve Continues to Strengthen Investment Bench with Two New Promotions

Greenwich, CT, Houston, TX and London, July 20, 2015 — First Reserve, the largest global private equity and infrastructure investment firm exclusively focused on energy, today announced the promotion of two investment professionals, one from each of the Firm’s private equity and energy infrastructure investment teams.  The promotions further strengthen First Reserve’s bench which continues to uphold the Firm’s 33-year tradition of diverse energy sector investments around the world.

“Our investment team is one of First Reserve’s strongest differentiating factors as energy investment specialists,” said Alex Krueger, Co-CEO and President of First Reserve.  “I continue to be proud of the team we have built, and these promotions demonstrate our ongoing focus on performance and talent development.”

The promotions become effective as of July 1, 2015, and include:

• Paul Steen, promoted to Vice President.  Since joining the firm in 2011, Paul has proven to be a valuable contributor in all three of First Reserve’s Buyout Funds core activity areas – Resources, Equipment & Services and Midstream/Downstream – with involvement in portfolio companies Templar Energy, TPC Group, Cobalt International Energy and Brand Energy.  Prior to joining First Reserve, Paul was an Analyst in the Investment Banking Division, Global Energy Group, at Credit Suisse and holds a Bachelor of Business Administration in Finance from Texas A&M University.  He is based in the Houston office.

• Doug Vaccari, promoted to Vice President.  Doug has been a significant contributor to First Reserve’s energy infrastructure team since joining the firm in 2011.  Since that time, he has had substantial involvement in the contracted midstream space, including with portfolio companies such as Caliber Midstream Partners, First ECA Midstream, Fort Detrick Energy and Navigator Energy Services.  Prior to joining First Reserve, Doug was an Analyst in the Investment Banking Division of UBS and holds a BA in Economics from the University of Pennsylvania.  He is based in the Greenwich office.

About First Reserve

First Reserve is the largest global private equity and infrastructure investment firm exclusively focused on energy. With over 30 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised more than USD $30 billion of aggregate capital since inception. Putting these to work, First Reserve has completed more than 550 transactions (including platform investments and add-on acquisitions) on six continents. Its portfolio companies span the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure. Visit us at for more information.

For First Reserve media inquiries, please contact:

Caroline Harris-Gibson
Prosek Partners
Tel: 212.279.3115 ext. 222

Meredith Mitchell
Prosek Partners
Tel: 212.279.3115 ext. 268