 Sithe
Global Power, LLC is an international development company engaged
in the development, construction, acquisition and operation of electric
generation facilities in attractive markets around the world. Sithe
Global’s management team has extensive industry experience
and has worked together on numerous greenfield project developments
and acquisitions. The management team includes many of the former
senior management and project development team of Sithe Energies,
Inc. as well as other experienced industry personnel. Sithe Global
carries out its development and acquisition activities with much
of the same strategic initiative and focus that helped build Sithe
Energies into one of the most successful independent power producers
in the world. Until its breakup, Sithe Energies had a leading reputation
in power development, with average fleet availability in excess
of 95%. The management of Sithe Global continues that tradition
of high standards.
Sithe Global is affiliated with Blackstone Capital Partners, an
affiliate of The Blackstone Group (which owns approximately
80% of the company)
and the Reservoir Capital Group (which owns approximately 20% of
the company). Blackstone and Reservoir have invested in Sithe
Global with
the object of participating in the first class development of power
facilities at locations in the U.S. and certain international markets
which are in need of new electric generating capacity.
Sithe Global is organized to allow management the
flexibility to make important, well-informed decisions quickly.
The majority shareholder, Blackstone, is fully supportive of the
company’s development initiatives and has committed to invest
over $500 million in approved projects. This support is instrumental
in allowing Sithe Global to seize and develop promising opportunities
on a fast track basis.
BLACKSTONE
The Blackstone Group, a private investment bank with
offices in New York, London, Paris and Hamburg, was founded in 1985.
Blackstone is
an experienced and active investor in the energy sector, including
investments in Premcor, Inc., one of the largest independent
refiners of petroleum products in the U.S. prior to its acquisition
by
Valero (NYSE:VLO) in 2005; Texas Genco, a Houston-based
wholesale
electric power generating company; Foundation Coal (NYSE:
FCL), a U.S. coal mining company; and Kosmos Energy, an oil
exploration
company.
The firm has raised a total of approximately $47 billion for
alternative asset investing since its formation. Over $27 billion
of that
has been for private equity investing, including Blackstone
Capital Partners V, an institutional private equity fund of
$13.5 billion.
www.blackstone.com
RESERVOIR CAPITAL
Reservoir Capital Group is a privately held investment firm with
an opportunistic 'hybrid' investment approach. Reservoir invests
directly in public securities and private investments, as well
as in partnership with investment teams through the creation
of hedge funds and private equity firms in which Reservoir is
an
owner. Reservoir's opportunistic investment funds currently
have over $2.8 billion under management.
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