Riverstone Credit Opps. Inc PLC Sub-Management Agreement (4734S)
November 06 2023 - 2:00AM
UK Regulatory
TIDMRCOI
RNS Number : 4734S
Riverstone Credit Opps. Inc PLC
06 November 2023
6 November 2023
Riverstone Credit Opportunities Income Plc
("RCOI" or the "Company")
Sub-Management Agreement
On November 6, 2023, Riverstone Holdings LLC and their affiliate
Riverstone Investment Group (collectively, "Riverstone") announced
that they intend to enter into an agreement with Breakwall Capital
LLC ("Breakwall") to provide sub-management services (the
"Sub-Management Agreement") for all credit vehicles managed by
Riverstone, including RCOI (the "Existing Credit Vehicles").
Breakwall is a newly formed independent asset-management firm
expected to be regulated by the SEC as a Registered Investment
Advisor, owned and operated by the existing Riverstone Credit
Partners team, including Christopher Abbate, Jamie Brodsky and
Daniel Flannery. Subject to execution of definitive documentation,
services provided by Breakwall will commence on January 1,
2024.
Under the proposed arrangement, Riverstone will remain the
manager of RCOI on the terms of RCOI's existing management
agreement and all aspects of the ongoing management of the Company,
including the day-to-day investment team, will remain consistent
with current practices. There will be no increase in fees payable
by RCOI as a result of the modified arrangements. The Board of RCOI
has been involved in the discussions leading up to this
announcement and are confident that the intended structure of
Riverstone as manager and Breakwall as the future sub-manager will
continue to deliver strong returns for shareholders.
The Board are supportive of the proposed arrangement described
above. In light of the end of the investment period for Riverstone
Credit Partners II in December 2023 and the upcoming realisation
election for the Company on or around the date of its annual
general meeting, the Board will communicate next steps in due
course.
For Riverstone Credit Opportunities Income Plc:
Adam Weiss +1 212 271 2953
Media Contacts:
Buchanan
Helen Tarbet Tel: +44 (0) 20 7466 5109
Henry Wilson Tel: +44 (0) 20 7466 5111
Verity Parker Tel: +44 (0) 20 7466 5197
Email: rcoi@buchanan.uk.com
About Riverstone Credit Opportunities Income Plc :
RCOI lends to companies that build and operate the
infrastructure used to generate, transport, store and distribute
both renewable and conventional sources of energy, and companies
that provide services to that infrastructure. RCOI is strategically
repositioning towards companies seeking to facilitate the energy
transition by decarbonizing the energy, industrial and agricultural
sectors, building sustainable infrastructure and reducing or
sequestering carbon emissions. The Company seeks to ensure that its
investments are having a positive impact on climate change by
structuring each deal as either a green loan or a
sustainability-linked loan, documented using industry best
practices.
For further details, see https://www.riverstonecoi.com/ .
Neither the contents of RCOI's website nor the contents of any
website accessible from hyperlinks on the websites (or any other
website) is incorporated into, or forms part of, this
announcement.
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END
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