The Carlyle Group and Riverstone Holdings Raise $4.5 Billion for Two New Energy Funds: Carlyle/Riverstone Global Energy and Power III - $3.8 Billion; Carlyle/Riverstone Renewable Energy Infrastructure Fund I - $685 Million

Washington, DC – Global private equity firm The Carlyle Group and energy private equity firm Riverstone today announced that they have raised $4.5 billion for two new energy funds: Carlyle/Riverstone Global Energy and Power III, LP – $3.8 billion and Carlyle/Riverstone Renewable Energy Infrastructure Fund I, LP – $685 million. Carlyle/Riverstone now manages $6 billion in committed capital.

Carlyle/Riverstone III invests globally throughout the energy and power industry with primary focus on buyout and growth capital investments in midstream, exploration and production, power, oilfield service and downstream sectors. The renewable energy infrastructure fund will invest globally in the wind, solar, geothermal, biomass and biofuels (ethanol and biodiesel) sectors.

David M. Leuschen and Pierre F. Lapeyre, Co-founders of Riverstone, said, "We continue to see attractive investment opportunities across all the sectors we focus on. The addition of these new funds combined with our existing asset footprint, industry relationships and extremely capable management teams will hopefully add significantly to our ability to source unique opportunities and create value for our LPs. To date, we have committed $2 billion of equity to 18 investments across all of our focus sectors. We are extremely pleased with the high level of interest expressed in our first renewable energy fund. We believe that interest in this sector is set for rapid growth as maturing technology, increased focus on energy security, mandated renewable standards, and public sentiment have significantly expanded the return potential for renewable energy."

Daniel A. D’Aniello, Carlyle Co-founder and Managing Director said, "The Carlyle Group and Riverstone Holdings partnership has delivered premium returns to our investors. We are confident that both of these funds will build upon that success."

Carlyle/Riverstone Fund Summary: Total Committed Funds – $6 billion

Carlyle/Riverstone Global Energy & Power Fund I – closed at $222 million in 2001
Carlyle/Riverstone Global Energy & Power Fund II – closed at $1.1 billion in 2004
Carlyle/Riverstone Global Energy & Power Fund III – closed at $3.8 billion in 2006
Carlyle/Riverstone Renewable Energy Infrastructure Fund I – closed at $685 million in 2006
Co-investment (Fund I & Fund II) – $224 million