ArcLight Capital Partners
ArcLight Capital Partners, LLC is a Boston-based private equity firm focused on energy infrastructure investments, with customers in the United States and Luxembourg. It was incorporated on February 7, 2001.[1] According to the firm’s website, ArcLight has invested approximately $25 billion in 113 transactions since that date, with its energy infrastructure platform, ArcLight Energy Partners Fund VII, LP holding $3.4 billion in capital commitments.[2]
Political Contributions
ArcLight has given over $900,000 to the GOP since 2012, in contrast to approximately $30,000 to Democrats in the same time period. ArcLight’s founder and managing partner, Daniel Revers, has personally contributed more than $170,000 to Republican candidates or affiliated political groups since 2004, with reports that Revers personally accompanied then-President Donald Trump on a 2017 trip to China seeking investors for ArcLight’s resuscitation of the Limetree Bay oil refinery in the US Virgin Islands. Limetree operators had previously paid millions to settle environmental violations.[3]
Fossil Fuel Footprint
After purchasing the Limetree Bay oil refinery in 2015, ArcLight resumed operations at the plant in January 2021. However, the Environmental Protection Agency, citing environmental justice concerns, invoked emergency powers to halt operations again in May of the same year, after the facility spewed toxic spray which showered down on the surrounding communities of St. Croix—majority Black communities with a median annual income of $36,000. This represented only one of four separate, recent incidents which had significant health impacts on these communities, and in 2021 the Department of Justice filed a complaint against Limetree Bay “alleging that the companies’ St. Croix petroleum refinery presents an imminent and substantial danger to public health and the environment.” Limetree subsequently filed for bankruptcy.
In 2016, ArcLight partnered with Blackstone to acquire the James M. Gavin coal plant, one of the ten dirtiest coal plants in the US. As of 2021, ArcLight also owns at least five aging “peaker plant” gas plants, which use billions in taxpayer dollars to be kept online as backup power during surges in energy demand. The air pollution produced by these plants disproportionately affects communities of color.
In 2021, ArcLight purchased an additional $2 billion in gas power plants across Maryland, New Jersey, New York, and Connecticut, as well as a 25 percent stake in Natural Gas Pipeline Company of America (NGPL)—a major gas transporter in the Chicago, Texas, and Louisiana Gulf Coast areas—for $830 million.[4] Nevertheless, ArcLight’s website emphasizes an alleged commitment to “clean transition,” “renewable assets,” “decarbonization,” and “sustainability."[2]
Leadership
Accessed February 2022:
- Daniel Revers – Managing Partner and Founder
- Josef Alvez - Managing Director
- Anna Beltrandi – Coordinator, Investor Relations & Compliance
- Andrew Brannan – Managing Director
- Trevor Breen – Director
- Jon Chadbourne – Director, Risk Management
- Michael Chechelnitsky Ph.D – Director, Commodity Markets
- Kevin Crosby - Partner
- Gavin Danaher – Partner and Head of Capital Formation
- John Erhard – Partner
- Marco Gatti – Managing Director
- Christina Kenny – Associate General Counsel and CCO
- Collin Krehbiel - Vice President
- John Mahoney – Director, Tax and Controller
- Brian Martin – Director, Construction Management
- Bob McGaughey - Managing Director, Commodity Markets
- Forgan McIntosh - Managing Director
- John McNaught, III - Director, Information Technology
- Matthew Miller - Director
- Sebastian Neelamkavil - Director
- Joshua Skudlarick - PE, Director, Construction Management
- Carl Stjernfeldt - Managing Director
- James Sullivan - Vice President
- Mark Tarini - Partner, Co-Head, Portfolio Management & Investor Relations
- Lucius Taylor - Managing Director
- Thomas Teich - Co-Head, Portfolio Management
- Robert Trevisani - Chief Financial Officer
- Carter Ward - Partner
- Terry Wetterman - Director, Investor Relations
- Valerie Zona - Vice President, Portfolio Management
Contact Information
Boston – Headquarters
200 Clarendon Street, 55th Floor
Boston, MA 02116
USA
Phone: +1-617-531-6300
Luxembourg
41, avenue de la Gare
L-1611 Luxembourg
Related GEM.wiki articles
Proposed Synfuels Plants in the United States
Southern Illinois Clean Energy Center
Proposed coal plants in the United States
Texas Express Y-Grade Pipeline
New Covert generating facility
Crete Energy Venture power station
Rolling Hills Generating power station
External Links
- ↑ "ArcLight Capital Partners LLC,” Bloomberg, accessed February 16, 2022.
- ↑ 2.0 2.1 ArcLight Capital, “About Us,” organizational webage, accessed February 16, 2022.
- ↑ Geoff Dembicki, “A Hedge Fund with Ties to Trump is Polluting One of Brooklyn’s Poorest Communities,” VICE, September 25, 2020; “Private Equity’s Dirty Dozen: 12 Firms Dripping in Oil and the Wealthy Executives Who Run Them,” report by LittleSis and the Private Equity Stakeholder Project, February 2022.
- ↑ “Private Equity’s Dirty Dozen: 12 Firms Dripping in Oil and the Wealthy Executives Who Run Them,” report by LittleSis and the Private Equity Stakeholder Project, February 2022.
