PINE BROOK ROAD PARTNERS CLOSES $1.43 BILLION FUND TO START NEW ENERGY, FINANCIAL SERVICES COMPANIES WITHOUT USING LEVERAGE

• Nine Private Equity Investments Completed Since Inception

NEW YORK—April 7, 2009—Pine Brook Road Partners, LLC, a New York-based private equity firm, today announced the final closing of its first fund with total capital commitments in excess of $1.43 billion. Pine Brook is differentiated from other private equity firms by its investment approach, which calls for starting businesses instead of buying companies, investing equity to grow them, and not using financial leverage to create returns.

In this fund, Pine Brook Capital Partners, L.P. will target equity investments of $100 million to $200 million. The firm is currently focused on the energy and financial services sectors.  In addition, Pine Brook uses the “line of equity” structure that helps mitigate the investment risk. Unlike traditional private equity and leveraged buyout investments where all the capital is invested upfront, Pine Brook’s “line of equity” approach advances capital over time as the investment opportunity becomes de-risked.

The fund is managed by a team of eight managing principals led by CEO Howard Newman and including Arnold Chavkin, Joseph Gantz, Robert Glanville, Robert Jackowitz, Craig Jarchow, Michael McMahon, and William Spiegel. These partners have worked together and invested successfully in the firm’s target sectors over several years.

“We are very pleased to have completed a successful fundraising effort,” said Newman, “We appreciate the support from our Limited Partners who understand our ‘Business Building’ investment strategy and are equally pleased that nine talented management teams have chosen to partner with Pine Brook to build their companies.”

The firm has completed nine investments in Pine Brook Capital Partners, L.P. since inception in 2006, including such companies as:

• Common Resources, LLC, a start-up oil and gas exploration and production company pursuing the development of non-conventional resource plays in the onshore basins of the Gulf Coast, West Texas, and Mid-Continent.
• Stonegate Production Company, LLC, a start-up oil and gas company focused on mature fields in on-shore U.S.
• Aurigen Re Capital Limited, a start-up life reinsurer that offers mortality reinsurance to Canadian primary life insurers.
• Narragansett Bay Insurance Company, a specialty personal lines insurer providing homeowner’s insurance in the northeastern U.S.

Pine Brook Road Partners received legal advice from Covington and Burling, LLP.  Lazard Freres & Co., LLC acted as placement agent in connection with the fundraising.

About Pine Brook Road Partners, LLC
Pine Brook Road Partners, LLC, is a New York-based private equity firm established in 2006 by a team of experienced private equity professionals to make business building and other equity investments, primarily in the energy and financial services sectors, where the firm’s partners have more than 100 years of combined experience. Pine Brook typically backs experienced management teams in building businesses that have the potential for significant long-term capital appreciation.  For more information please visit the company’s web site at www.pinebrookpartners.com.

Contact:
Alex Stanton
Stanton Public Relations & Marketing
(212) 780-0701