Azerbaijan, Baku / corr Trend A.Gasimova / Riverstone Holdings LLC, a private equity firm specializing exclusively in the energy and power sectors, today announced that Lord Browne of Madingley, the former Chief Executive of BP PLC, has joined the firm as a Managing Director and Managing Partner of Riverstone Europe. Riverstone said it will be opening a London office where Lord Browne will be based.
David M. Leuschen and Pierre F. Lapeyre, Jr., Co-Founders of Riverstone Holdings, said, "We've known, worked with and respected John Browne for nearly 25 years. He is a legend in the energy industry and we are very excited about him joining Riverstone. He is without question one of the most visionary, experienced and talented executives in the energy industry with an unparalleled global understanding. We are looking forward to Lord Browne helping us expand our existing energy practice and identifying new opportunities in the alternative and renewable energy markets."
Lord Browne said, "Since its founding in 2000, Riverstone has emerged as one of the leading and certainly one of the most respected private equity firms in the energy industry. This is an opportunity for me to return to the energy industry full-time, which will enable me to best apply my life-long skills and experience.'
Riverstone Holdings LLC, a New York-based energy and power focused private equity firm founded in 2000. Riverstone owns nearly $50 billion of assets.