Energy-focused Investor Riverstone Raises USD 989mn for Latest Private Equity Fund at Final Close

The Fund & LPs:

New York City-based asset management firm, Riverstone Holdings LLC (Riverstone), has raised USD 988.5mn in total capital commitments for its private equity fund, Riverstone Echo Continuation Fund LP (the Fund), according to its filing with the SEC, dated 13 July 2020, reviewed by AnalyzeMarkets.

Closed at its hardcap, the Fund has received commitments from a total of 40 investors, with the first commitment received on first July this year.

On the total fundraising of USD 988.5mn, the Fund has paid a sales commission of about 0.07%, amounting to c.USD 0.7mn. The Fund’s placement agents include NYC-based Park Hill Group LLC.

The GP:

Established in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr., Riverstone is an investment firm, focusing energy, power and infrastructure assets.

With offices in New York, London, Houston and Mexico City, Riverstone has raised over USD 40bn and invested in over180 companies in North America, South America, Europe, Africa, Asia, and Australia, since its inception. 

Riverstone’s private equity platform has raised USD 30bn to-date and invested in over 110 companies, according to its website. 

In February last year, Riverstone announced to invest up to USD 500mn in hree Rivers Natural Resource Holdings IV LLC, an Austin-based oil and gas company.