For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor. (Bloomberg) — For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor. With big, publicly traded drillers less eager to spend on acquisitions, private explorers that once counted on being gobbled up in three to five years are having to recalibrate, Howard Newman, chief executive officer at New York-based investment firm Pine Brook, said in an interview last week. Investors may now need to stick around for a decade of drilling and development before companies reach “full value,” he said. “Your challenge really is to optimize the play, rather than just find the play,” said Newman, whose firm manages $6 billion in investments, […]