First Reserve Gets $1.2B For Energy Fund

Energy-focused private equity firm,First Reserve, has raised $1.2 billion for its first infrastructure fund,Financial Newsreports. TheFirst Reserve Energy Infrastructure Fundwill focus on contracted midstream resources, renewable and conventional power generation, and transmission and distribution, addsAltAssets.

Managing director and head of infrastructure group,Mark Florian, will head the investment team in the U.S. and the U.K. dedicated to the fund. The firm has received part of the capital from new investors, such as insurance companies, corporate funds and sovereign wealth funds.

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