First Reserve Continues to Strengthen Investment Bench with Two New Promotions

GREENWICH, Connecticut, HOUSTON, LONDON, and HONG KONG, July 22, 2014 /PRNewswire/ -- First Reserve, the largest global private equity firm exclusively focused on energy, today announced the promotion of two investment professionals within the Buyout Funds team.  The promotions further strengthen the Firm's team which continues to uphold the Firm's 30-year tradition of diverse energy sector investments around the world.

"I continue to be proud of the team we have built at First Reserve, and these promotions demonstrate our ongoing focus on performance and talent development," said Alex Krueger, President of First Reserve.  "In my view, our investment team is one of First Reserve's strongest differentiating factors as energy investment specialists, and our vast network of energy industry partners is testament to that reputation."

The promotions become effective as of July 1, 2014, and include:

• Jesse Krynak, promoted to Vice President.  Jesse has been a key contributor to activity across all three of First Reserve's core sectors since joining the firm in 2010.  He has involvement in the Midstream/Downstream sector through PBF Energy, in the Equipment & Services sector through TNT Crane & Rigging and in the Resources arena through Deep Gulf I and II as well as RKI E&P.  Prior to joining First Reserve, Jesse worked as a Financial Analyst in the Global Energy Investment Banking Division at Credit Suisse. Prior to Credit Suisse, Jesse was a Financial Analyst at The Boeing Company.  As a Vice President, Jesse will continue to help drive portfolio company growth and value accretion across the firm's targeted sectors of the energy industry.  He is based in the Houston office.

• David McFarland, promoted to Vice President.  Since joining the firm in 2010, David has proven to be a valuable contributor in both the Midstream/Downstream and Equipment & Services ("E&S") sectors – with involvement in midstream investments BORCO, Midstream Enterprises, FR Midstream and Century Midstream, as well as E&S investment Saxon Energy Services.  Prior to joining First Reserve, David was an Analyst in the Investment Banking Division, Global Natural Resources Group, at Barclays Capital.  As a Vice President, David will continue to focus on portfolio company optimization and platform enhancement, maintaining his focus in particular on the Midstream. He is based in the Houston office.

For media inquiries, please contact:

Caroline Harris-Gibson
Prosek Partners
Tel: +1.212.279.3115 ext. 222
E-mail: cgibson@prosek.com

Julie Hamiton-Oakes
Prosek Partners
Tel: +1.212.279.3115 ext. 234
E-mail: joakes@prosek.com

About First Reserve
First Reserve is the largest global private equity 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 $26 billion of aggregate capital since inception. Putting these funds to work, First Reserve has completed more than 475 transactions (including platform investments and add-on acquisitions) across six continents. Its portfolio companies operate in approximately 50 countries and span the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure.