Riverstone Holdings

Riverstone was founded by Pierre F. Lapeyre, Jr. and David M. Leuschen, who had been instrumental in the formation of the Goldman Sachs Global Energy & Power Group in the mid 1980s.The firm is based in New York and has offices in Houston, London, and Mexico City.

Riverstone and Carlyle closed on their first fund with $222 million of commitments in 2001. In June 2004, the firms completed fundraising for Carlyle/Riverstone Global Energy & Power Fund II, with $1.1 billion of investor commitments, almost five times the size of the first fund. In 2006, Riverstone and Carlyle raised a pair of funds, including the third in its series of main funds, Carlyle/Riverstone Global Energy and Power III, which raised $3.8 billion of capital. The two firms also raised their first renewable energy focused fund, Carlyle/Riverstone Renewable Energy Infrastructure Fund I, with $685 Million.Also in 2006, Riverstone was a member of a consortium of private equity firms including Goldman Sachs Capital Partners and Carlyle Group that completed the $27.5 billion acquisition of Kinder Morgan, one of the largest pipeline operators in the US. The buyout was backed by Richard Kinder, a former president of Enron.In 2008, Riverstone and Carlyle raised $6 billion for their fourth main energy fund, Riverstone/Carlyle Global Power & Energy Fund IV. Additionally in 2008, the firms raised a $3.4 billion Riverstone/Carlyle Renewable Energy Infrastructure Fund II as a successor to the $685 million fund raised in 2006 to focus on renewable energy investments.In 2009 the New York Attorney General Andrew Cuomo ordered Riverstone Holdings LLC to pay $30 million in restitution after Riverstone Holdings employed fixers to get them business from pension funds controlled by "corrupt" state officials.Then in 2013, Riverstone raised $7.7 billion for its fifth main energy fund, Riverstone Global Power & Energy Fund V.In 2016, Riverstone raised $5.1 billion for its sixth main energy fund, Riverstone Global Power & Energy Fund VI.Also in 2016, Riverstone raised its first flagship credit fund. In 2018 Riverstone raised $750 million for its second credit fund.In October 2020 Riverstone's Decarbonization Plus Acquisition Corporation priced a $200 million IPO. In February 2021, Riverstone's Decarbonization Plus Acquisition Corporation II priced a $350 million IPO.