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

LONDON, April 10 (Reuters) – Petrofac (PFC.L: Quote, Profile, Research) 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 (BP.L: Quote, Profile, Research) (BP.N: Quote, Profile, Research) 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 (GS.N: Quote, Profile, Research) as
head of investment this summer. [ID:nLDE7331OC]

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. [ID:nLDE734248]

Outgoing Petrofac (PFC.L: Quote, Profile, Research) 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

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

The Financial Times reported on Saturday that Credit Suisse
has already begun preparing the investment vehicle for a
($1=.6103 Pound)
(Writing by Neil Maidment, additional reporting by Quentin
Webb; Editing by Jon Loades-Carter)

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