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Riverstone raids Anadarko Petroleum for new Houston co-head

13 Jun 2013

James Hackett Anadarko RiverstoneEnergy-focused private equity firm Riverstone Partners has hired former Anadarko Petroleum CEO James Hackett as a partner to co-head its Houston office.

Hackett, pictured, stepped down from Anadarko seven days ago as part of a long-planned succession process, the firm said in a statement.

The move comes amid Riverstone targeting its $7.5bn hard cap for its Global Energy & Power Fund V.

That fund has received commitments from LPs including pension giant CalPERS, which committed $400m.

AltAssets learned in December that Riverstone was preparing to break through its original $6bn target for the vehicle and planned to continue fundraising until mid-February.

Despite that, the firm is yet to announce its final close. A spokesman at Riverstone PR agency Kekst & Company said it could not comment on fundraising.

A statement from Riverstone co-founders David Leuschen and Pierre Lapeyre said, “Jim Hackett is among the most knowledgeable and experienced leaders in the global oil and gas industry today.

“He helped lead the unconventional energy revolution in North America and has extensive expertise in building upstream companies both onshore and offshore as well as unique experience in global deepwater exploration.

“We have been proud to know him for many years and are extremely pleased that he has joined Riverstone.

“Jim will work closely with our existing investment team and portfolio companies while helping us continue to source, build and manage new investment opportunities on behalf of our limited partners and to help us continue to identify and attract talented operating management teams.”

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