Fred Lucas

Fred Lucas

Managing Partner, Co-founder | London


Fred has 30 years of continuous and relevant experience in the oil & gas industry, energy investment banking and related capital markets. Fred worked as an upstream petroleum economist from 1988 to 1990 and then worked on upstream M&A at County NatWest. He joined Cazenove & Co.'s equity research department in 1993 as an oil & gas sector analyst. Over the following 17 years he worked in the energy sector on numerous public market fundings, IPOs, demergers, take-overs and international privatisations and helped to build the firm's leading position in oil & gas and oilfield services equity research. He became a partner in 2002 and Head of Global Oil & Gas equity research. In 2009 J.P. Morgan (JPM) acquired Cazenove & Co. and Fred transferred to be JPM's Head of European Oil & Gas research until retiring in mid-2016. He then co-founded First Alpha Energy Capital LLP with Verne Grinstead, an ex-colleague from JPM, and is one of four Managing Partners. Fred brings extensive experience of the global oil & gas industry, the macro environment, opportunity screening and investment appraisal disciplines, transaction due diligence and structuring, capital market dynamics and investment exit analysis. Fred has a degree in Natural Sciences (Chemistry) from Cambridge University and a Masters in Finance from the London Business School.