FS Energy and Power Fund President to Resign
FS Energy and Power Fund, a non-traded business development company, disclosed that William Sonneborn plans to resign from his role as president of the company and member of its board of trustees on or before June 30, 2019.
FS Energy and Power Fund, a non-traded business development company, disclosed that William Sonneborn plans to resign from his role as president of the company and member of its board of trustees on or before June 30, 2019.
FS Energy and Power Fund is managed by FS/EIG Advisor LLC, which is jointly operated by an affiliate of FS Investments and EIG Asset Management. Sonneborn also plans to resign as president of EIG Global Energy Partners, which specializes in private investments in energy and energy-related infrastructure on a global basis and had $22.2 billion under management as of December 31, 2018.
The company noted that Sonneborn’s resignation did not result from any disagreement relating to its operations, policies or practices.
R. Blair Thomas, CEO of EIG Global Energy Partners, is expected to fill the board seat vacated by Sonneborn.
Sonneborn became president of FS Energy and Power Fund and its advisor in April 2018. Prior to joining EIG Partners, he was a partner of Kohlberg Kravis Roberts & Co. (KKR) and a member of KKR’s Management Committee. He served as CEO of KKR Asset Management, the public markets side of KKR, as well as CEO and director of KKR Financial Corporation (NYSE: KFN), a publicly-traded specialty finance firm.
He also sat on the board of Nephila Capital, a $10 billion Bermuda-based hedge fund that KKR purchased a stake in 2013. Prior to joining KKR, he was with The TCW Group Inc., where he served as president and chief operating officer.
Previously, he worked at Goldman, Sachs & Co. in New York and Hong Kong, where he focused on mergers & acquisitions for financial institutions. Sonneborn graduated from Georgetown University.
FS Energy and Power Fund launched in July 2011 to invest primarily in privately-held U.S. companies in the energy and power industry. In November 2016, the company closed its public offering to new investors.
