First Reserve has announced the promotion of two senior investment professionals within the Energy Infrastructure Funds team.

The promotions further highlight the strength of the firm's energy infrastructure program, which closed on the First Reserve Energy Infrastructure II LP  in June 2014. The fund was oversubscribed beyond its initial target of US$2 billion, ultimately closing at its US$2.5 billion hard cap.

William Macaulay, Chief Executive Officer of First Reserve, stated:

"I am extremely proud of the team we have built at First Reserve, and these promotions reflect both our deep bench of talent and our commitment to excellence. In my view, we have the strongest energy infrastructure investment team in the industry, and we continue to expect a robust set of investment opportunities over the coming years."

The promotions become effective as of January 1, 2015, and include:

Eduard Ruijs, promoted to Managing Director. Eduard has made significant contributions to First Reserve's energy infrastructure program internationally since joining the firm in 2011. He has been instrumental to First Reserve's efforts in the contracted midstream, power and energy assets sectors, helping to spearhead First Reserve's recent investments in PetroFirst Infrastructure Limited alongside partner Petrofac and Dublin waste to energy with Covanta Energy. Prior to joining First Reserve, Eduard was an Investment Director and Partner at NIBC Infrastructure Partners.  As a Managing Director, Eduard is expected to continue to pursue global opportunities in the firm's targeted areas of energy infrastructure investment.

Mark Saxe, promoted to Managing Director. Mark has been a key contributor to First Reserves energy infrastructure program since joining the Firm in 2011. He has been a driving figure in the firm's efforts in the Contracted Midstream sector, including the Caliber Midstream partnerships with Triangle Petroleum and First ECA Midstream with First ECA. Prior to joining First Reserve, Mark was a Director in the Corporate Development Department of Loews Corporation. As a Managing Director, Mark is expected to continue to pursue energy infrastructure investment opportunities in the Contracted Midstream space.

Mark Florian, Head of Infrastructure Funds of First Reserve, commented:

"These two individuals have played an important role in the success of First Reserve's energy infrastructure program to date, and we expect them to be key figures in the future of the Firm. They exemplify the strong work ethic and dedication to delivering long-term, steady returns to our Limited Partners that is the hallmark of our energy infrastructure team."