Riverstone Holdings Ltd. is the biggest private equity firm that is focused on global energy. Now it has joined hands with Miguel Galuccio, who is an oil executive. They are collaborating to launch a global venture. All this has been confirmed by a person who has adequate knowledge of this partnership.
Both Galuccio, as well as Riverstone Holdings, are in talks with global investors as well as sovereign-wealth funds. They are looking for those who may wish to explore some opportunities that may be in the energy sector. All these talks have not been disclosed as yet. They have a plan to pursue energy investments. Several attractive markets are being looked at including Mexico.
Riverstone Holdings was founded by Pierre Lapeyre along with David Leuschen in 2000. Both of them are leading the company now. They have raised over $34 billion till now for any buyouts as well as growth investments. These have been in energy as well as power companies that are spread across nine private funds along with three vehicles that are listed.
Miguel Galuccio has more than 25 years of experience in the energy sector that is spread across five continents. He has been nominated to the board of Schlumberger Ltd., which is the largest oil and gas company in the world. He used to work for this company earlier.
Riverstone Holdings is already playing an active role in the emerging energy market of Mexico. This company is deploying a large part of its capital in the Gulf of Mexico. This is through several companies that include Sierra Oil & Gas S de RL de CV along with Fieldwood Energy LLC. Riverstone Holdings has also managed to raise over $750 million that has come from the local pension funds.
Now the Mexican government is promoting energy sector reform. This has attracted interest from all around the world. There had been a monopoly for 75 years that was under Petroleos Mexicanos which is also known as Pemex. This is a market with an abundance of oil and gas reserves. Now, these can be developed through technology as well as processes that are being used in various other parts of the world.
Galuccio is just 48 years old. He was the CEO of YPF SA till 2016. His work helped to make Argentina the largest shale producer in the world after the U.S. This was managed by initiating the Vaca Muerta deposit exploitation.