First Reserve Corporation Expands Senior Executive Team

GREENWICH, Conn., HOUSTON, LONDON and HONG KONG, Feb. 15, 2012 /PRNewswire/ -- First Reserve Corporation, a leading global investment firm dedicated to the energy industry, has expanded its senior talent base with two new appointments. Claudi Santiago joins First Reserve as a Managing Director and Chief Operating Officer and will be based in the firm's London office. Irene Mavroyannis joins First Reserve as a Managing Director in its Investor Relations Group and will be based in the firm's Greenwich office.

Claudi Santiago joins First Reserve after a career of more than 30 years at GE, where he was President and CEO of GE Oil & Gas and Senior Vice President of GE.  While at GE, Claudi managed its $10-billion Oil & Gas division focused on upstream, midstream and downstream equipment and services.  As Chief Operating Officer at First Reserve, Claudi will be responsible for managing the firm's operations and will focus on talent development, implementation of best practices across the firm's operational processes and developing First Reserve's extensive energy industry network of advisors, directors and consultants.  He will also take up board positions at First Reserve's portfolio companies.

William Macaulay, Chief Executive Officer of First Reserve Corporation, said: "We have known and worked with Claudi for over a decade while he was at GE and now look forward to having such an experienced and senior executive join our firm.  Claudi brings with him strong knowledge of the energy industry, deep operating experience and an extensive network of relationships. With his skills and experience, Claudi will be a valuable in-house resource to First Reserve."

Claudi Santiago said: "Everybody in the energy business knows First Reserve and its reputation as a leading investor in the energy industry. While at GE, I worked with the firm and know that its reputation is well deserved. I am very excited about the opportunity to play a part in managing the operational aspects of the business and to be able to contribute to First Reserve's successful position as a leading private investor in the energy value chain."     

Irene Mavroyannis joins First Reserve from KKR, where she was most recently KKR's Global Energy and Infrastructure Product Specialist and also previously served as Chief Operating Officer for KKR's broker-dealer.  Prior to KKR, Irene was an investment banker at Citigroup Global Markets, where she worked with First Reserve.  Irene, who has 25 years of experience in the financial services industry, commenced her career as a corporate finance attorney at Shearman & Sterling in New York. Irene's primary focus at First Reserve will be on the firm's marketing strategy and messaging, as well as overseeing the firm's public relations and communications activities.   Irene will also be involved in investor relations and fund raising activities. 

William Macaulay added: "We welcome Irene's expertise and experience to our Investor Relations Group as we continue to strive to provide the highest level of service to our investing partners."

About First Reserve Corporation

Founded in 1983, First Reserve is a leading global investment firm dedicated to the energy industry with over $23 billion of invested and committed capital in the sector to date.  With offices in North America, Europe and Asia, First Reserve is well-positioned to make strategic investments on a global basis across the energy value chain.  First Reserve seeks to create value for its investors by applying its deep industry knowledge, decades of investing and operational experience, highly talented management team and powerful network of global relationships to its investments and through active monitoring of its portfolio companies. 

For additional information, please visit First Reserve's website at www.firstreserve.com.

SOURCE First Reserve Corporation