Ex-BP boss eyes trio for new investment fund: report

By @ibtimes on

Petrofac chairman Rodney Chase, ex-Corus chairman Jim Leng and former Enterprise Oil chairman Graham Hearne are expected to be asked to join the board of a new energy investment fund being set-up by Tony Hayward, the Sunday Times said.

Former BP Plc chief executive Hayward, who stepped down at BP over his handling of the oil spill in the Gulf of Mexico last year, is hoping to raise about 1 billion pounds ($1.64 billion) in a London float in the next six months.

Hayward is expected to team up with financier Nat Rothschild and Julian Metherell, who is to leave Goldman Sachs as head of investment this summer.

Three sources familiar with the matter confirmed the names of the fund's founders to Reuters, although Hayward last week denied the fund was being set up.

Outgoing Petrofac chairman Chase is being lined up to chair the oil and gas investment fund, while Leng and Hearne have also been asked to join the board, the British newspaper reported.

It said the float could happen in the next three to six months, with the three founders set to absorb the first 20 million pounds of any losses made by the fund. It said a list of potential targets had been made in the Middle East, Russia and Africa.

The Financial Times reported on Saturday that Credit Suisse has already begun preparing the investment vehicle for a listing.

($1=.6103 Pound)

(Writing by Neil Maidment, additional reporting by Quentin Webb; Editing by Jon Loades-Carter)

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