First Reserve Elevates Three Team Members to Senior Leadership Roles

On January 14, 2025, First Reserve, a prominent global private equity investment firm, shared exciting news with the financial and energy sectors: the promotion of three key team members to significant leadership positions, effective January 1, 2025. The firm’s Managing Partners expressed their enthusiasm for this milestone, congratulating Yuri Larrabee, Wes Fischer, and Jonathan Lee, who have played vital roles in the firm’s success and growth over the years.

First Reserve specializes in investments across energy, utility, and industrial markets, and the promotions signify the company’s commitment to nurturing talent and fostering leadership from within. The Managing Partners noted, “Yuri, Wes, and Jonathan have each contributed significantly to the firm's momentum over the past several years.” Each individual embodies First Reserve's culture of collaboration and partnership, which is particularly crucial in today’s evolving energy economy.

Profiles of the Promoted Leaders

Yuri Larrabee - Managing Director

Yuri Larrabee has been with First Reserve since 2013 and has emerged as a fundamental part of the firm’s infrastructure solutions investment strategy. His expertise has facilitated the advancement of numerous investment funds and portfolio companies, including notable firms like Dresser Utility Solutions and Trillium Flow Technologies. Yuri played a key role in the recently exited platforms, such as Intero Integrity Solutions and IRISNDT. As Managing Director, he will drive forward the firm’s focus on infrastructure solutions. Before joining First Reserve, Yuri worked as an analyst in Credit Suisse’s Investment Banking Division, and he holds a BA from Princeton University.

Wes Fischer - Director

Joining First Reserve in 2017, Wes Fischer has contributed greatly to the firm’s infrastructure solutions and value-added investment strategies. His work includes support for investment funds like the Crestwood Permian Joint Venture and assisting the AP4 Group as the latest addition to First Reserve's offerings. In his new role as Director, Wes will continue to influence the infrastructure landscape and drive strategic initiatives in this area. Previously, he served as an analyst at Morgan Stanley and earned his BBA from the University of Texas at Austin.

Jonathan Lee - Director

Also a member since 2017, Jonathan Lee has established himself as a dedicated professional focused on the firm’s infrastructure solutions investment strategies. His significant involvement with various investment funds and portfolio companies has made a substantial impact on First Reserve’s growth. As Director, Jonathan will enhance the strategic direction of the firm’s infrastructure solutions. Before his tenure at First Reserve, Jonathan worked as an analyst at Credit Suisse, holding a BA from Johns Hopkins University.

Commitment to Innovation and Partnership

This leadership transition comes at a crucial time when the global energy and industrial sectors require innovative solutions and significant investments. The firm emphasizes its unique approach to fostering a culture that empowers its professionals to navigate these challenges effectively.

First Reserve's ethos hinges upon developing a best-in-class team, grounded in collaboration and mutual success. The promotions of Yuri, Wes, and Jonathan not only reinforce this philosophy but also position the firm to meet the complex needs of its clientele in a rapidly evolving marketplace.

About First Reserve

Founded in 1983, First Reserve has cultivated over 40 years of experience in the industry. With a distinctive network that has facilitated more than $34 billion in aggregate capital raised across 750 transactions, First Reserve stands as a leader in private equity focused on energy and industrial markets. Their website, www.firstreserve.com, offers further insights into their investments and strategies.

The newly promoted leaders are expected to inspire and lead the firm into its next chapter, continually implementing innovative solutions in their focus areas, ensuring First Reserve remains at the forefront of the investment landscape.