Wall Street Journal
by Mike Spector
June 19, 2013
Gen. Wesley Clark, the former NATO Supreme Allied Commander in Europe who made an unsuccessful U.S. presidential bid, has joined Blackstone Group LP as a senior adviser to one of the private-equity giant’s funds, with an eye toward helping it pursue energy investments overseas.
Clark will serve as a senior adviser to Blackstone Energy Partners, a $2.5 billion fund focused on energy investments. At the same time, he’s joining the board of Fisterra Energy, a company formed in January by Blackstone and others to develop, finance and operate large power projects in areas of the world with capacity or transmission shortfalls. The nascent company hasn’t yet done any deals.
Also joining Fisterra’s board: Lars Thunell, the former head of International Finance Corp.
Blackstone’s move to bring Clark aboard to aid with investments comes after KKR & Co. tapped David Petraeus, the former U.S. Army general and Central Intelligence Agency chief, to work as a consultant to help strategize on investments in emerging markets and other matters.
Clark, a former four-star Army general who led allied forces in Kosovo, in 2003 made a failed bid for the Democratic presidential nomination. In 2004, he founded a consulting firm, Wesley K. Clark & Associates LLC, and went on to campaign for other Democratic presidential candidates. He has focused on alternative energy and energy more broadly through his consulting firm alongside other fields such as national security and investment banking, according to his consulting firm’s website.