August 9, 2006 in
GREENWICH, Conn., Aug. 9 /PRNewswire/ — Starwood Energy Group Global, LLC (“Starwood Energy”), the energy investment arm of Starwood Capital Group Global, LLC (“Starwood”), announced today the appointment of Brad Nordholm as Chief Executive Officer and Managing Director. Mr. Nordholm, whose appointment is effective immediately, joins an already experienced leadership team at Starwood Energy, led by Stephen Zaminski and Madison Grose.
Since its formation in July 2005, Starwood Energy has closed three major investments representing more than $800 million in total project costs, including the construction of the undersea Neptune Regional Transmission System, which was named 2005 North American infrastructure Deal of the Year by Project Finance magazine. Starwood Energy focuses predominately on investing in energy and power infrastructure assets, which are largely insulated from commodity price fluctuations.
“Brad’s hiring marks an important milestone for our company,” said Barry Sternlicht, Chairman and Chief Executive Officer of Starwood Capital. “Since creating Starwood Energy, we have implemented a disciplined investment approach focused on supply and demand and replacement costs — the same strategic concepts which have proven so successful over the last 15 years in Starwood’s real estate investment activities.”
“Now, with three successful investments already in the group’s portfolio and a promising pipeline of new opportunities, we are thrilled to add Brad’s talents and industry experience to the Starwood Energy team,” Mr. Sternlicht continued. “His proven track record of both managing and investing in energy assets will only enhance the group’s ability to evaluate potential new projects.”
Mr. Nordholm most recently served as Chief Executive Officer of Tyr Energy Inc., an energy asset management firm he co-founded in 2002, which managed in excess of $3.5 billion in energy assets. He also served as Chairman of Tyr Capital, LLC, a Tyr Energy affiliate that acquires and manages power generation assets and has an enterprise value of approximately $800 million.
Prior to holding those positions, Mr. Nordholm was Senior Vice President & General Manager of the Capacity Services division of Aquila Inc. where he was responsible for the development, acquisition, management and daily optimization of 3,800 MW of power generation, 25 Bcf of gas storage and 12 Bcf/day of gas transportation assets. Mr. Nordholm received a B.A. in Economics from Carleton College in 1978 and completed the Harvard Business School PMD program in 1989.
“I am very excited about the opportunity to help develop Starwood Energy into a leading investor in the industry,” said Mr. Nordholm. “Under the leadership of Steve Zaminski, the group has already built a successful collection of investments. By carefully parsing the market, maintaining a rigorous investment discipline and aggressively originating opportunities, I believe the environment is ripe for us to accelerate our activity.”
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