Goldman Sachs has lost a pair of energy mergers and acquisition bankers in the past week. Managing Director Pete Labbat left the whiteshoe firm to join ex-Goldman official Doug Kimmelman's Energy Capital Partners and Jay Horine left his post to join rival JPMorganChase in New York. Calls to Kimmelman's mobile number and Tim Kingston, managing director at Goldman, were not returned. Goldman spokesman Michael DuVally declined to comment.
Energy Capital was launched last year with a plan for offices in New York and on the West Coast (PFR, 5/16). Labbat could not be reached for comment and it could not be determined where he will be based, or what deals Energy Capital has been involved in since its founding.
Labbat was involved in the firm's auction of Linden, N.J., plant holding entity East Coast Power to a unit of General Electric (PFR, 3/13) and the sale of Coleto Creek--a facility shopped by Sempra Generation and Carlyle/Riverstone Holdings to an International Power subsidiary.
Horine was a managing director at Goldman for 12 years in the power group and recently advised Dominion Resources on its sale of two gas local distribution companies. At JPMorgan, Horine will report to Doug Petno, head of energy investment banking, after his gardening leave period ends, says Adam Castellani, spokesman at JPMorgan.