UK - Lord Browne resigns from Apax

Lord Browne has resigned from his position as chairman of the Apax Partners Advisory Board to take a position with US private equity firm Riverstone Holdings. Browne, former BP chief executive, has joined Riverstone as managing director and managing partner and will be based in the London office of Riverstone, which will be opening shortly. Riverstone is a New York based firm focusing exclusively on the energy and power sectors. It co-manages an energy fund with the Carlyle Group.