The promotions will be effective as of July 1, 2015. They consist of Paul Steen and Doug Vaccari, both promoted to Vice President.
Since joining the firm in 2011, Paul Steen has been a 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 has been a significant contributor to First Reserve's energy infrastructure team since joining the firm in 2011. He has had substantial involvement in the contracted midstream space.
Alex Krueger, Co-CEO and President of First Reserve, has commented:
"Our investment team is one of First Reserve's strongest differentiating factors as energy investment specialists. I continue to be proud of the team we have built, and these promotions demonstrate our ongoing focus on performance and talent development."
First Reserve is the largest global private equity and infrastructure investment firm exclusively focused on energy. The company has raised more than US$30 billion of aggregate capital since its inception.