Riverstone Steamrolls Target With $7.7B Close For Latest Fund

Law360, New York (June 20, 2013, 3:59 PM EDT) -- Energy-focused private equity firm Riverstone Holdings LLC closed its latest fund with $7.7 billion in total commitments, far outstripping the $6 billion goal it had set for the effort, it announced Wednesday.

The fund, the New York-based firm’s fifth, is its first since splitting away from a joint venture with private equity powerhouse Carlyle Group LP in 2011.

Riverstone has earmarked the fund for building up energy and power businesses around the world through buyouts and growth capital investments. Several repeat investors agreed to back the...
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