Sixpoint Partners (Sixpoint) has held the closing of the First Reserve Refuel Fund, a USD511 million single-asset continuation vehicle managed by First Reserve.
Sixpoint was retained by First Reserve, a middle-market private equity firm with a focus on the energy and industrials sectors, to serve as global exclusive placement agent for the fundraise. The Fund acquired Refuel (the “Company”), a buy-and-build platform with over 170 operated convenience stores located across the Southeastern United States, from a legacy First Reserve fund. The Fund also provides additional dry powder for Refuel to continue pursuing its acquisition-driven growth strategy.
The Fund was led by the Goldman Sachs Asset Management Vintage Funds and existing First Reserve limited partners were provided the option to take liquidity or participate in the continued growth of Refuel.
