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Blackstone follows KKR’s general lead with Wesley Clark hire

19 Jun 2013

General Wesley Clark BlackstoneBlackstone has become the second private equity firm to hire a former four-star general in three weeks after bringing former NATO supreme allied commander in Europe Wesley Clark on board.

Clark has joined the board of directors of portfolio company Fisterra Energy, which develops large-scale independent power projects in Latin America, Europe and the Middle East.

Clark and fellow new hire Lars Thunell, who was head of the International Finance Corporation, will also serve as senior advisors to Blackstone with a focus on its private equity energy activities.

The move follows KKR hiring former Afghanistan commander and ex-CIA director David Petraeus as an advisor at the end of May.

Clark 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.”

Blackstone senior managing director Sean Klimczak 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.

He 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.”

Last week it emerged Blackstone had held a $1.5bn first close for its $4bn-targeting Asian real estate fund.

The firm held the close on June 7 according to Bloomberg, which cited a letter sent to investors.

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