JUNE 17, 2013

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Riverstone raises $6.8 billion for global energy fund

by Andrea Waitrovich

Private equity firm Riverstone Holdings has held a $6.8 billion first close for its Riverstone Global Energy & Power Fund V, according to a filing with the Securities and Exchange Commission.The global energy infrastructure fund launched in February 2012 with a $7.5 billion hard cap fundraising goal.

The fund has started to invest its capital. A recent transaction is the acquisition of Houston-based Utex Industries, a manufacturer of engineered sealing and other specialty products used in a variety of applications and equipment related to onshore and offshore oil and gas drilling and production, power, mining, water treatment, and other industrial sectors.

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