LONDON (Reuters) – John Browne is making a return to the industry where he was a long-time leader, joining a private equity firm focused on energy investments four months after a scandal forced himto resign early as CEO of BP.
Browne also on Friday stepped down as chairman of buyout firm Apax Partners to work for New York-based Riverstone Holdings.
His departure from Apax is effective from September 1, Apax said. No immediate replacement will be appointed.
Browne will become a managing director and managing partner of Riverstone Europe. The private equity firm, which focuses exclusively on the energy and power sectors, is opening a London office where Browne will be based.
Since it was founded in 2000, the firm has invested more than $6 billion (3 billion pounds) in midstream, upstream, power, oilfield services and renewables.
“This is an opportunity for me to return to the energy industry full-time, which will enable me to best apply my life-long skills and experience,” said Browne, who spent 41 years at BP.
