Riverstone confirms intention to raise up to £550m with London-listed energy vehicle

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stock brokerage market share listedEnergy-focused private equity firm Riverstone Holdings has confirmed it plans to raise up to £550m by listing a new vehicle on the London Stock Exchange.

The firm revealed it expects the fund to begin trading its shares on October 29, and plans to focus on investments in global energy exploration and production.

Riverstone Energy Limited has already received commitments from five cornerstone investors according to the filing.

Riverstone closed its latest power and energy fund above its $7.5bn hard cap in June amid strong appetite from LPs for US energy vehicles.

The Riverstone Global Energy & Power Fund V held a final close on $7.7bn. AltAssets revealed in December last year that Riverstone was preparing to break through its original $6bn target for the vehicle.

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