Riverstone Ups Investment To $550M For Gulf Drilling Venture

Law360, New York (March 5, 2013, 6:00 PM EST) -- Energy-focused private equity firm Riverstone Holdings LLC has agreed to make a second investment alongside Ridgewood Energy Corp. in a deepwater oil development venture in the Gulf of Mexico, bringing its total commitment to the joint venture to $550 million, Ridgewood said Monday.

The New York-based PE firm will make the investment through its fifth fund, Riverstone Global Energy and Power Fund V LP. Riverstone made a similar investment in the deepwater venture in 2010 through an energy and power fund it co-owns with Carlyle Group...
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