First Reserve Corporation Promotes Five Investment Professionals

GREENWICH, Conn, HOUSTON and LONDON, Jan. 13, 2011 /PRNewswire/ -- First Reserve Corporation, the world's leading private investment firm in the energy industry, today announced that it has promoted five key professionals from its investment team, and three in its accounting group, effective immediately, demonstrating the deep bench of talent at the firm.

The promotions include naming Jeffrey K. Quake as Managing Director and Edward T. Bialas, Michael G. France, Dod E. Wales and Neil A. Wizel as Directors.

"Each of these individuals has made a significant contribution to First Reserve's success in 2010, identifying opportunities for the firm that deliver value to our strategic partners and investors," said William Macaulay, Chief Executive of First Reserve Corporation. "We strongly believe in recognizing talent within our organization and these executives are excellent examples of the caliber of our investment team at First Reserve."

Jeffrey K. Quake, Managing Director, joined First Reserve in 2005. His responsibilities include investment origination, structuring, execution, monitoring and exit strategy, with particular emphasis on the global equipment manufacturing and services sector. Prior to joining First Reserve, Mr. Quake was a member of the investment team at J.P. Morgan's private equity fund for five years. Prior to J.P. Morgan, he was a member of the Corporate Finance team at Lehman Brothers, Inc. Mr. Quake holds a B.A. degree in Economics from Williams College and an M.B.A. from Harvard Business School.

Edward T. Bialas, Director, joined First Reserve in 2003 as an Associate and returned to First Reserve in 2007 after earning his M.B.A. His responsibilities range from deal origination and structuring to due diligence, execution and monitoring, with particular focus on the equipment, manufacturing and services sector. Before joining First Reserve as an Associate, Mr. Bialas was an Analyst at UBS Investment Bank in the Financial Sponsors Group. Mr. Bialas holds an A.B. in Economics from Dartmouth College and an M.B.A. from Harvard Business School.

Michael G. France, Director, joined First Reserve in 2007. His responsibilities range from deal origination and structuring to due diligence, execution and monitoring, with particular focus on the reserves and midstream sectors. Prior to joining First Reserve, Mr. France was a Vice President in the Natural Resources Group, Investment Banking Division, at Lehman Brothers, Inc. Prior to Lehman Brothers, he was a Senior Consultant at Deloitte & Touche. Mr. France holds a B.B.A. Cum Laude in Finance from the University of Texas and an M.B.A. from Jones Graduate School of Management at Rice University.

Dod E. Wales, Director, joined First Reserve in 2004. His responsibilities range from deal origination and structuring to due diligence, execution and monitoring, with particular focus on the equipment, manufacturing and services sector. Prior to joining First Reserve, he was an Analyst in the Distressed Finance and Restructuring Group at Credit Suisse First Boston.  Mr. Wales holds a B.A. in History from Stanford University.

Neil A. Wizel, Director, joined First Reserve in 2007. His responsibilities range from deal origination and structuring to due diligence, execution and monitoring, with particular emphasis on the equipment, manufacturing, and services sector as well as the reserves sector. Prior to joining First Reserve, Mr. Wizel worked for five years at Greenbriar Equity Group, a transportation–focused private equity firm. Prior to Greenbriar, he was a Financial Analyst in the Leveraged Finance/Financial Sponsor Group at Credit Suisse First Boston. Mr. Wizel holds a B.A. in International Studies from Emory University.

In addition, First Reserve is pleased to announce various promotions in its Accounting Group, which is responsible for the financial aspects of First Reserve and its funds. Chris Tracey has been promoted to Assistant Controller of the General Partner, Lucas Markelon to Manager of Accounting of the Infrastructure Fund and Scott Whittlesey to Accounting Manager.

About First Reserve Corporation

First Reserve is the world's leading private investment firm in the energy industry, making both private equity and infrastructure investments throughout the energy value chain.  For 28 years, it has invested solely in the global energy industry, and has developed an unparalleled franchise, utilizing its broad base of specialized energy industry knowledge as a competitive advantage. The firm is currently investing its most recent private equity fund, which closed in 2009 at approximately US $9 billion. First Reserve invests strategically across a wide range of energy industry sectors, developing a portfolio that is diversified across the energy value chain, backing talented management teams and building value by building companies.  Further information is available at www.firstreserve.com.

SOURCE First Reserve Corporation