Goldman Sachs Asset Management Announces Liquidation Details for Goldman Sachs MLP and Energy Renaissance Fund
June 16 2023 - 9:11AM
Business Wire
Goldman Sachs MLP and Energy Renaissance Fund (the “Fund”)
(NYSE: GER) today announced additional details regarding the
liquidation of the Fund. Pursuant to the Fund’s Plan of Liquidation
and Dissolution previously announced, the Fund has fixed the close
of business on July 10, 2023 (the “Liquidation Date”) as the
effective date for determining the shareholders of the Fund that
will be entitled to receive liquidating distributions. The Fund’s
last day of trading on the New York Stock Exchange will be July 5,
2023, after which time there will be no secondary market for the
Fund’s shares. It is anticipated that liquidating distributions
will begin being paid after close of business on the Liquidation
Date. The proportionate interests of such shareholders in the
assets of the Fund will be determined on the basis of their
respective holdings at the close of business on the Liquidation
Date.
The Fund may pay more than one liquidating distribution. If the
amount of cash or cash equivalents set aside by the Fund to pay the
amount of its tax liabilities exceeds the amount of the Fund’s tax
liabilities as finally determined, the Fund may pay such excess
amount to shareholders of record on the Liquidation Date.
Distributions, if any, to shareholders may result in a taxable
event for shareholders, depending on their individual
circumstances. Shareholders should consult their own tax advisors
about any tax liability resulting from the receipt of liquidation
proceeds.
Goldman Sachs MLP and Energy Renaissance Fund
Goldman Sachs MLP and Energy Renaissance Fund is a
non-diversified, closed-end management investment company managed
by Goldman Sachs Asset Management’s Energy & Infrastructure
Team, which is among the industry’s largest MLP investment groups.
The Fund began trading on the NYSE on September 26, 2014.
The Fund may depart from its stated investment objective and
policies as it prepares to liquidate and distribute its assets to
shareholders. It is anticipated that the Fund’s portfolio will be
positioned into cash, cash equivalents or other liquid assets on or
prior to the Fund’s liquidation. The liquidation of the Fund’s
portfolio is likely to result in increased transaction costs, which
will be borne by the Fund and its shareholders.
About Goldman Sachs Asset Management, L.P.
Bringing together traditional and alternative investments,
Goldman Sachs Asset Management provides clients around the world
with a dedicated partnership and focus on long-term performance. As
the primary investing area within Goldman Sachs (NYSE: GS), we
deliver investment and advisory services for the world’s leading
institutions, financial advisors and individuals, drawing from our
deeply connected global network and tailored expert insights,
across every region and market – overseeing more than $2 trillion
in assets under supervision worldwide as of March 31, 20231. Driven
by a passion for our clients’ performance, we seek to build
long-term relationships based on conviction, sustainable outcomes,
and shared success over time. Follow us on LinkedIn.
Disclosures
Shares of closed-end investment companies frequently trade at a
discount from their net asset value (“NAV”), which may increase
investors’ risk of loss. At the time of sale, an investor’s shares
may have a market price that is above or below NAV, and may be
worth more or less than the original investment.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any security. The Fund has
completed its initial public offering. Investors should consider
their investment goals, time horizons and risk tolerance before
investing in the Fund. An investment in the Fund is not appropriate
for all investors, and the Fund is not intended to be a complete
investment program. Investors should carefully review and consider
the Fund’s investment objective, risks, charges and expenses before
investing.
Compliance Code: 323545. OTU
Date of First Use: June 16, 2023
_________________________ 1 Assets Under Supervision (AUS)
includes assets under management and other client assets for which
Goldman Sachs does not have full discretion. AUS figure as of March
31, 2023.
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Media: Avery Reed Tel: 212-902-5400
Investor Contact: Charles Sturges Tel: 212-902-7996
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