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Private equity firm Riverstone Holdings has invested more than $6 billion in the energy and power space. According to the website: "The current transformation of the energy and power industry is creating market inefficiencies and dislocations that require significant capital investment and exceptional management teams. Riverstone is a catalyst, playing an active and opportunistic role in the ongoing restructuring of the energy and power industry."

Well, this week, the firm got a new team member - Lord John Browne. He certainly understands the energy market; that is, he was the former CEO of BP (NYSE: BP).

Now, he will be a managing director of Riverstone.

Interestingly enough, he was serving as an advisor and chairman to private equity firm Apax Partners, which is a more general purpose fund. But, he has resigned from that post. He is also no longer on the board of Goldman Sachs (NYSE: GS).

So, I guess Lord Browne will have lots of time to devote to his new gig. And, in light of his extensive background in the energy business, it does look like a big win for Riverstone.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

Private equity firm gets a Lord originally appeared on BloggingStocks on Fri, 24 Aug 2007 18:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BPGoldman SachsGoldmanSachsGSLord John BrowneLordJohnBrowneRiverstoneFri, 24 Aug 2007 18:30:00 EST<![CDATA[TXU gets private equity counter offer]]>http://www.bloggingstocks.com/2007/03/19/txu-gets-private-equity-counter-offer/http://www.bloggingstocks.com/2007/03/19/txu-gets-private-equity-counter-offer/http://www.bloggingstocks.com/2007/03/19/txu-gets-private-equity-counter-offer/#commentsFiled under: , , , ,

TXU Corp. (NYSE:TXU) is now the popular girl whom everyone wants to take the the prom. Not bad for a stodgy utility company.

The Blackstone Group, Carlyle Group and Riverstone Holdings may make a counter offer for the Texas power company which has agreed to be bought out by Kohlberg, Kravis & Roberts and Texas Pacific Group in a $32 billion private equity deal, the biggest ever, according to Reuters. The buyout firms are still in early discussions about a potential bid and it may not happen.

As part of the KKR/Texas Pacific deal, TXU has until April 16 to solicit and consider other offers, Reuters said.

Blackstone, Carlyle and Riverstone should get the blessing of the environmental groups that blessed the KKR/Texas Pacific Group bid. That was a PR coup that will help the companies gain leverage with regulators.

Electric utilities generate strong cash flow which private equity firms like. It's only a matter of time until the next deal emerges.

TXU gets private equity counter offer originally appeared on BloggingStocks on Mon, 19 Mar 2007 08:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyoutscarlyle groupCarlyleGroupcoalelectric utiltiesElectricUtiltiesenergykkrkohlberg kravis robertsKohlbergKravisRobertspower companiesPowerCompaniesriverstoneriverstone holdingsRiverstoneHoldingstexas pacificTexasPacificMon, 19 Mar 2007 08:10:00 EST