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General Wesley Clark and Former International Finance Corporation Head Lars Thunell Join Fisterra Board of Directors



  General Wesley Clark and Former International Finance Corporation Head Lars
  Thunell Join Fisterra Board of Directors

General Clark and Lars Thunell to also Serve as Senior Advisors to Blackstone

Business Wire

NEW YORK -- June 19, 2013

Blackstone (NYSE: BX) and Fisterra Energy (“Fisterra”), a company owned by
funds managed by Blackstone on behalf of its private equity investors, today
announced that General Wesley Clark, former NATO Supreme Allied Commander in
Europe, and Lars Thunell, former International Finance Corporation head, have
joined Fisterra’s Board of Directors. Earlier this year, Blackstone, together
with a management team led by Pedro Barriuso, the former Executive Chairman of
Element Power and former head of Iberdrola Renewables, formed Fisterra to
identify, develop, finance, construct and operate large-scale independent
power projects, with a focus in Latin America, Europe and the Middle East.

General Clark and Lars Thunell will also serve as Senior Advisors to
Blackstone with a focus on the firm’s private equity activities in the energy
sector.

Sean Klimczak, Senior Managing Director at Blackstone, said, “We are thrilled
to welcome both General Clark and Lars Thunell to the team. General Clark’s
experience and breadth of knowledge will be invaluable to both Fisterra and
Blackstone, as we continue to invest in and construct power projects around
the world.” Sean Klimczak added, “Lars brings a strong understanding of how to
finance and complete large-scale energy projects and has a wealth of
investment experience in many of the countries in which we operate or would
seek to operate.”

Pedro Barriuso, Chairman and CEO of Fisterra, said, “I am delighted to have
both Lars Thunell and General Clark join Fisterra. Mr. Thunell and General
Clark are perfect compliments to our management platform and will be
invaluable as we build Fisterra into a premier global power development
company.”

General Wesley Clark, former NATO Supreme Allied Commander in Europe, said,
“Helping countries overcome their energy challenges and develop energy
security is critical to economic growth and sustainable development. I am
pleased to join Fisterra’s Board of Directors and look forward to supporting
the team as they work to accomplish their goals.”

Lars Thunell, former Head of International Finance Corporation, said,
“Developing energy solutions for emerging markets plays a crucial role in
strengthening economies and creating growth. Fisterra has the right team and
experience to develop affordable, safe and reliable power projects around the
world, and I look forward to joining the team.”

General Clark rose to the rank of four-star general as NATO’s Supreme Allied
Commander, Europe, during his tenure in the United States Army. Since retiring
from the military in 2000, he has served in several private sector positions,
and in September 2003, he ran as a Democratic candidate for President of the
United States. General Clark has chaired several public and private companies
and is a progressive leader in pursuing energy solutions. He graduated first
in his class at West Point and completed degrees in Philosophy, Politics and
Economics at Oxford University as a Rhodes Scholar. His awards include the
Presidential Medal of Freedom, Defense Distinguished Service Medal (five
awards), Silver Star, Bronze Star, Purple Heart, honorary knighthoods from the
British and Dutch governments and numerous awards from other governments,
including the award of Commander of the Legion of Honor (France). He also
serves as a member of the Clinton Global Initiative’s Energy & Climate Change
Advisory Board and ACORE’s Advisory Board.

Lars Thunell is a seasoned chief executive with over 30 years of management
experience, most recently as the Chief Executive Officer and Executive Vice
President of the International Finance Corporation, the financing arm of the
World Bank. Under Mr. Thunell’s leadership, the International Finance
Corporation tripled its annual financing of infrastructure, healthcare and
energy projects around the world from $6 billion to over $20 billion, the
majority of which are in emerging markets.

About Blackstone

Blackstone is one of the largest alternative asset managers in the world, with
more than $218 billion in assets under management, and is a leading global
private equity firm and energy private equity franchise. Since its inception
in 1985, Blackstone has invested over $42 billion of equity in
172 transactions across the globe. Blackstone is currently investing out of
Blackstone Capital Partners VI (“BCP VI”), a $16.7 billion diversified general
purpose private equity fund, and Blackstone Energy Partners (“BEP”), a $2.5
billion energy-focused private equity fund. Blackstone’s private equity
investments in the energy sector are funded jointly by BEP and BCP VI, which
together represent over $5 billion of equity capital allocated to energy.

Over the last decade, Blackstone has built a leading energy sector private
equity investing franchise with an extensive track record of investing in
partnership with talented management teams seeking to capitalize on their
growth opportunities and realize the full potential of their assets. Led by
David Foley, the Chief Executive Officer of BEP, this dedicated team of
professionals has committed and invested more than $7.5 billion of equity in
over 25 energy transactions, across a broad range of geographies and
throughout the energy value-chain: upstream, midstream, services & equipment,
downstream and power. Power companies represent a significant share of
Blackstone’s capital commitments to the energy sector and remain a key focus
area for new investments. Blackstone’s current portfolio of power investments
includes: Sithe Global, Moser Baer, Monnet, Global Offshore Wind and PQ
Energy.

Further information is available at www.blackstone.com. Follow us on Twitter
@Blackstone.

Contact:

Blackstone
Christine Anderson, +1 212-583-5182
Global Public Affairs
Christine.Anderson@Blackstone.com
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