First Reserve, a global private equity firm exclusively focused on energy, has promoted two senior investment professionals within its Buyout Funds team, effective January 1, 2014.
Gary Reaves has been promoted to managing director. He joined the firm in 2006, and, working in the company’s Midstream and Downstream sector, spearheaded First Reserve’s recent sale of Brand Energy and the recently announced agreement to acquire TNT Crane & Rigging. Prior to joining First Reserve, Reaves was an analyst in the Global Energy Group at UBS Investment Bank. He also spent time in Financial Advisory Services for Howard Frazier Barker Elliott Inc. As a managing director, Reaves will continue to drive performance and pursue opportunities primarily in the Midstream and Downstream sector.
Will Brown has been promoted to director. He serves a critical role on the team managing the firm’s investment in AFGlobal, helping to drive its global growth strategy. Brown also was a key figure in First Reserve’s 2012 sale of Acteon, which completed eight acquisitions, quadrupled its operating profits and significantly expanded its geographic footprint under the firm’s ownership. Prior to joining First Reserve in 2006, Brown was an investment banking analyst for Banc of America Securities. As a director, he will continue to focus on global opportunities in the company’s Energy Equipment and Services sector.