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First Reserve forms partnership with Zhenghe

First Reserve

First Reserve, a large global private equity firm exclusively focused on energy, reports that First Reserve Fund XIII has entered into a strategic cooperation with Hainan Zhenghe Industrial Group Co. Ltd. The parties plan to pursue oil and gas investment opportunities in China and Central Asia. 

In addition, Zhenghe will act as a potential source of capital in support of First Reserve's participation in North American oil and gas upstream projects and will invest as a limited partner in First Reserve Fund XIII. Zhenghe is a publicly listed company in China and is focused on oil and gas exploration and production operations. Financial terms of the agreement were not disclosed. 

The two organizations will advise and support each other on upstream transaction strategies and financing, and will share research on upstream projects. 

 

 

 

 

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