Alex Krueger, involved in forming a top U.S. coal producer, Alpha Natural Resources (NYSE:ANR), early last decade, has moved up to President of global investment firm First Reserve Corp.
First Reserve over the years has been involved in several U.S. coal companies. Alpha, now one of the nation’s top producers through a series of mergers since its formation, is the most notable example.
First Reserve announced Krueger’s promotion to President on March 28. Krueger has been with First Reserve for 13 years, most recently as a Managing Director in London, where he was instrumental in expanding the firm’s global reach and oversaw the doubling of the UK office over four years. He was previously appointed as Co-Head of First Reserve’s buyout funds and has particular expertise in natural resources.
From the late 1990s, Krueger was responsible for leading the firm’s mining strategy, initially in the U.S. and subsequently globally, including investments in coal assets in the U.S., the Czech Republic, China and Australia. “He created a highly successful coal platform with the creation of Alpha Natural Resources for the firm, when the industry was out of favor, and then applied that knowledge to a portfolio of international businesses to benefit from growth in developing economies,” First Reserve noted.
Krueger’s appointment follows the expansion of the senior management team, including the recent appointment of Claudi Santiago, previously at GE, as Chief Operating Officer and nine recent senior promotions at the Managing Director and Director levels.
Founded in 1983, Greenwich, Conn.-based First Reserve is a leading global investment firm dedicated to the energy industry with over $23bn of raised capital as of the end of 2011. With offices in North America, Europe and Asia, First Reserve said it is well-positioned to make strategic investments on a global basis across the energy value chain.