First Reserve announces seven new energy senior promotions

First Reserve, the global private equity and infrastructure investment firm exclusively focused on energy, has announced the promotion of seven investment professionals across its global private equity and energy infrastructure 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.

Alex Krueger, Co-CEO and President of First Reserve stated: 

“With decades of experience as energy investment specialists, I am proud to consider the depth and breadth of our investment team as one of First Reserve’s strongest differentiating factors.  I continue to be honored by the team we have built, and these promotions convey the value and talent I believe we provide to our investors, our partners and our portfolio.”

Mark Florian, Managing Director and Head of Infrastructure Funds for First Reserve, added: 

“It is my pleasure and privilege to recognize these individuals who, along with the rest of the organization, exemplify the strong work ethic and dedication to our Limited Partners that embody the First Reserve culture. These team members have played an important role to date, and we expect them to be key figures in the future of the Firm.”

The promotions become effective as of January 1, 2016, and include:

Energy Infrastructure Funds

• James Berner, promoted to Managing Director. Since joining the firm in 2011, James has made significant contributions to First Reserve’s success in the energy infrastructure funds, with leadership roles in First Reserve’s investments in North American Power I (and its various follow-on investments), Fort Detrick Energy and most recently Kingfisher Wind.  Prior to joining First Reserve, James was a Managing Director at General Electric’s Energy Financial Services division. He holds a B.A. from Cornell University, an M.B.A. from the Wharton School of Business, and an M.A. from the School of Advanced International Studies, Johns Hopkins University.  He is based in the Greenwich office.

• Adi Blum, promoted to Managing Director. Since joining the firm in 2011, Adi has been important to the accomplishments of First Reserve’s energy infrastructure team, most recently leading the Firm’s investments with key industry partners in Mexico, such as Los Ramones II and La Bufa Wind, as well as leading our teams for our First Caribbean Power & Midstream and SunEdison Reserve investments.  Adi led the coordination of the previously announced Mexico Energy Strategic Summit in April 2015, an exclusive event for senior energy industry executives, co-hosted by Petroleos Mexicanos (“Pemex”) and Tudor Pickering, Holt & Co.  Prior to joining First Reserve, Adi worked at High Road Capital Partners, a middle market private equity firm.  He holds a B.S. from Georgetown University, School of Foreign Service, and an M.B.A. from New York University.  He is based in the Greenwich office.

• Ryan Shockley, promoted to Managing Director. Ryan originally joined First Reserve’s Private Equity Funds as an Associate in 2004, returning as a Vice President in 2008 after earning his M.B.A.  For the Private Equity Funds, he focused primarily in the power and equipment, manufacturing and services sectors and was a key member of the team that executed the PrimeLine Utility Services investment for First Reserve Fund XII.  In 2014, he moved to the Energy Infrastructure Funds where he led the Firm’s efforts with FR Warehouse and other investment opportunities.  He holds a B.A. from Kalamazoo College and an M.B.A. from Kellogg School of Management at Northwestern University.  He is based in the Greenwich office.

• Ed Fidler, promoted to Director. Since joining the Firm in 2011, Ed has been a key member of the energy infrastructure teams for Renovalia Reserve, PetroFirst Infrastructure Limited and La Bufa Wind.  Ed has also led the Firm’s process for managing currency and other hedging programs across its Energy Infrastructure Funds.  Prior to joining First Reserve, Ed spent several years working on behalf of Macquarie’s European Infrastructure Funds.   He holds a B.A.Sc. from the University of British Colombia and is a CFA Charterholder.  He is based in the London office.

Private Equity Funds

• Peter Petrov, promoted to Director. Peter joined First Reserve in 2007 as an Associate and returned as a Vice President in 2012 after earning his M.B.A.  Peter has contributed significantly to First Reserve’s efforts in the Equipment and Services sector as well as the Resources sector and worked on portfolio investments Ansaldo, Abengoa and Glencore.  Prior to joining First Reserve, Peter was an Investment Banking Analyst at Credit Suisse.  He holds a B.B.A. from Texas Christian University and an M.B.A. from London Business School.  He is based in the London office.

• Michael Scardigli, promoted to Director. Mike joined First Reserve in 2008 as an Associate and returned as a Vice President in 2012 after earning his M.B.A.  Mike has contributed significantly to First Reserve’s efforts in the Equipment and Services sector and worked on portfolio investments Dresser, Acteon, Dixie Electric and Diamond S Shipping.  Prior to joining First Reserve, Mike was an Investment Banking Analyst at Citigroup.  He holds a B.A. from Georgetown University and an M.B.A. from the Wharton School of Business.  He is based in the Greenwich office.

• Juan Diego Vargas, promoted to Director. Juan Diego joined First Reserve in 2007 as an Associate and returned as a Vice President in 2012 after earning his M.B.A.  Juan Diego has contributed significantly to First Reserve’s efforts in the Equipment and Services sector as well as the Resources sector and worked on portfolio investments CHC Helicopter, PrimeLine Utility Services, and Barra Energia.  Prior to joining First Reserve, Juan Diego was an Investment Banking Analyst at Morgan Stanley.  He holds a B.B.A. from the University of Notre Dame and an M.B.A. from London Business School.  He is based in the Houston office.