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For Immediate Release: |
Contact: |
ENERGY INVESTORS FUNDS HIRES PROJECT FINANCE SPECIALIST JOSE A. TORRES AS SENIOR VICE PRESIDENT
MILL VALLEY, CA (June 2, 2006) Energy Investors Funds (“EIF”), an established private equity fund manager that invests in the U.S. energy and electric power sector, is pleased to announce that Jose A. Torres has joined EIF as Senior Vice President in the firm’s Mill Valley, Calif. office.
Torres joins the firm with a broad background in power project and infrastructure finance. He was most recently with CoBank in Denver, where he served as Vice President and Head of the Structured Finance Group. Prior to that, he was a Vice President in the Project and Sectorial Finance Group of Societe Generale in New York and a Vice President in the Utilities, Project Finance & Advisory Group at ING Barings in New York.
“We are delighted that Jose has decided to bring his extensive project finance experience to the private equity market and to EIF,” said John Buehler, Managing Partner of EIF in the firm’s Mill Valley office. “As our firm’s portfolios of U.S. power and transmission assets continue to grow along with the size of our funds, the addition of a senior industry professional with diverse transactional experience will augment and enhance our existing investment team.”
Energy Investors Funds has already committed approximately 60% of its United States Power Fund II, LLC, which closed on $750 million in October 2005, in a well-rounded portfolio of power generation and transmission assets in the U.S. EIF expects to seek additional funding in the fourth quarter of this year, with a likely target of $1 billion to $1.25 billion.
“My affiliation with one of the leading private equity firms in the U.S. power sector is a tremendous opportunity for me to bring my transaction skills to bear as an equity investor,” said Mr. Torres. “I’m looking forward to originating and closing power deals consistent with EIF’s charter, and also to assisting in the fundraising process as EIF works with its dynamic investor base to provide equity capital for power project development, construction and operations.”
About Energy Investors Funds
Energy Investors Funds was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. The firm’s consistent, proven investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation. Energy Investors Funds provides equity capital for development, construction finance, and operational stage investments. As investment managers, the firm seeks to mitigate commodity risk (fuel and electricity) by focusing primarily on acquiring power assets with long-term off-take contracts. Energy Investors Funds has mobilized over $1.75 billion in capital, and currently manages six private equity funds from its offices in Boston, New York, and San Francisco. These funds have made over 87 diversified investments, with a combined underlying asset value exceeding $5 billion. For more information visit www.eifgroup.com.
