Royal Bank Capital Partners, the private equity arm of Royal Bank of Canada, has launched a $100-million fund that will invest in oil and gas, power and technology service companies. The fund is led by Paul McDermott, and comanaged by Bruce Rothstein, managing director, and Ray Sheen, director. Rothstein and McDermott were with First Reserve Corp., the Greenwich, Conn.-based private equity firm that invests exclusively in energy. Previously, Rothstein was executive vice president and chief financial officer of Entech Industries, a company formed by First Reserve to acquire and operate high-end valve manufacturers, and was with Ernst & Young as a senior manager specializing in mergers and acquisitions. Sheen was vice president of Deutsche Bank's energy group, a project finance director at Union Bank of Switzerland and held various positions, including vice president, in Lehman Brothers' independent power group. He was also with GE Capital, as an assistant vice president in the energy finance group. -Petroleum Finance Week
Recommended Reading
FTC Oks Chevron-Hess Deal, Bans John Hess from Board
2024-09-30 - Federal regulators signed off on a blockbuster tie-up between Chevron and Hess Corp. but banned CEO John Hess from sitting on the Chevron board.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
2024-10-04 - Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Quantum Teams Looking for Acquisitions ‘Off the Beaten Path’
2024-10-14 - Blake Webster, partner at Quantum Capital Group, said the private-equity firm’s portfolio teams are looking to buy from sellers looking for cash buyouts, though not necessarily in the usual places.
Diamondback Subsidiary Viper Closes $900MM Midland Royalty Deal
2024-10-02 - Diamondback Energy’s Viper Energy closed the last of three acquisitions from Tumbleweed Royalty, owned by Double Eagle Energy’s founders, that together totaled about $1.1 billion.
SM Energy, NOG Close $2.6 Billion in Uinta Basin Acquisitions
2024-10-02 - SM Energy and Northern Oil and Gas have closed the acquisitions of XCL Resources and Altamont Energy, adding hundreds of locations and oil cuts of 86% to 87%.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.