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Lord Browne joins Riverstone as managing director24/08/2007. Source: AltAssets. 
 Former BP chief executive Lord Browne of Madingley has joined New York-based private equity firm Riverstone Holdings as a managing director and managing partner of Riverstone Europe. Lord Browne will be based in the firm's new London office.
Lord Browne has been chairman of the advisory board of Apax Partners, a position from which he has resigned reportedly effective from 1 September.
David M Leuschen and Pierre F Lapeyre, Jr, co-founders of Riverstone Holdings, said, 'We have known, worked with and respected John Browne for nearly 25 years. He is a legend in the energy industry and we are very excited about him joining Riverstone. He is without question one of the most visionary, experienced and talented executives in the energy industry with an unparalleled global understanding. We are looking forward to Lord Browne helping us expand our existing energy practice and identifying new opportunities in the alternative and renewable energy markets.'
Lord Browne commented, 'This is an opportunity for me to return to the energy industry full-time, which will enable me to best apply my life-long skills and experience. I continue to believe it is a unique and important time in the energy industry and I am quite excited to actively participate in Riverstone's growth strategy to identify and manage attractive investment opportunities.'
Riverstone Holdings specialises in the energy and power sectors. The firm conducts buy-out and growth capital investments in the midstream, upstream, power, oilfield services, and renewable sectors of the energy industry. To date, the firm has committed approximately $6bn to investments across the energy and power industry.
Lord Browne resigned a few months ago from his position as group chief executive of BP, a company he joined as an apprentice in 1966. He is currently the president of the Royal Academy of Engineering.
Copyright © 2007 AltAssets
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