Riverstone Partner Andrew Ward Is Said to Leave After 14 Years

Andrew Ward, a senior dealmaker at Riverstone Holdings, will leave the energy-focused private equity firm after 14 years, people with knowledge of the matter said.

Ward, 49, plans to start his own company focused on energy investments, said the people, who asked not to be identified because the move hasn’t been announced. A partner at New York-based Riverstone, he was responsible for finding and managing deals across the sector, with an emphasis on companies involved in midstream energy activities, which includes storing and shipping fuel.

Ward didn’t respond to a telephone message seeking comment. A representative for Riverstone said the firm doesn’t comment on personnel matters.

More than $100 billion has been raised since mid-2014 for energy equity and debt investments, according to research firm Preqin, as dealmakers seek to take advantage of the slide in oil prices by buying assets on the cheap. Riverstone finished gathering $7.7 billion for its fifth global energy and power private equity fund in 2013, and since then the firm has added executives dedicated to energy credit and capital markets.

Ward, who’s on Riverstone’s management and investment committees, was involved in the firm’s deals for Gibson Energy Inc., HES International BV, Kinder Morgan Inc., Niska Gas Storage Partners LLC and USA Compression Partners LP, among others.

Before joining Riverstone in 2002, Ward worked at Ranieri & Co. and Hyperion Partners, the private equity firms founded by Lewis Ranieri. Ward, a graduate of Dartmouth College and the business school at the University of California-Los Angeles, started his career at Merrill Lynch.

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