The private-equity firm Riverstone Holdings LLC said July 10 that it hired Christopher Abbate, Jamie Brodsky and Daniel Flannery to lead its credit and capital markets activities.
Abbate and Brodsky were appointed as managing directors, and Flannery was appointed as a vice president, the firm said, noting that Abbate will lead the team.
Previously, Abbate was a managing director and head of energy-leveraged finance at Citigroup Inc. (NYSE: C), the firm said, noting that he has 17 years’ experience in energy financing.
Both Brodsky and Flannery previously worked at Nomura Securities International, as well as at UBS Investment Bank’s energy-leveraged finance team, Riverstone said. Abbate was also head of leveraged finance origination at the bank, the firm noted.
“We are very pleased that Chris, Jamie and Dan have agreed to join us. Having worked with them at their respective firms on many of our past debt financings, including for Fieldwood Energy, Gibson Energy and EP Energy, we believe that we have put together a group with extensive credit structuring expertise, broad deal sourcing capabilities, strong energy industry competence and tremendous chemistry,” said David M. Leuschen and Pierre F. Lapeyre Jr., Riverstone’s co-founders.
“The team will not only broaden Riverstone’s focus to include investments in energy and power-related credit investments, but will also complement the activities of our buyout professionals, helping to further maximize value in our existing and future portfolio companies,” they added.
The credit and capital markets department will handle credit investments, advise Riverstone’s portfolio companies and select third-party clients on capital structure and capital markets, the firm said.
“Riverstone is one of the most respected private equity firms in the energy and power industry. We are delighted to be joining such a talented team to help build a new credit business, while advising Riverstone portfolio companies and other external clients on capital markets strategies,” Abbate said.
Abbate was an Air Force intelligence officer for five years before working in corporate finance, the firm said. He has a bachelor’s degree from Duke University and an MBA from the University of Maryland’s RH Smith School of Business, the firm added.
Brodsky has 14 years’ experience in investment banking, and holds a bachelor’s degree from Duke University and an MBA through the EMBA Global Program with Columbia University and London Business School, the firm said.
Flannery has seven years’ experience in energy-focused leverage finance, and has a bachelor’s degree from Duke University, the company said.
Riverstone Holdings LLC is based in New York.