• Riverstone Holdings Announces Formation of Riverstone Credit Opportunities, L.P.

    Posted in Press Releases.

    New York, NY and London, UK (January 9, 2015) – Riverstone today announced the formation of Riverstone Credit Opportunities, L.P. (“RCO”). RCO is a newly created portfolio company formed to take advantage of the current dislocation in the leveraged capital markets for energy companies. Riverstone has committed $375 million to RCO, which is comprised of up to $250 million from Riverstone Global Energy and Power Fund V (“Fund V”) and up to $125 million from Riverstone Energy Limited (“REL”).

    RCO is being advised by Riverstone’s credit investment team, led by Christopher Abbate and Jamie Brodsky, both of whom joined Riverstone in July 2014 after a decade of leading the energy leveraged finance efforts at Citi, Nomura and UBS. That experience, combined with the expertise of the broader Riverstone investment team and platform, uniquely positions RCO to benefit from the current environment.

    RCO expects to make investments in market-based opportunities, direct investments and in capital relief opportunities.

    Pierre Lapeyre and David Leuschen, Co-Founders of Riverstone, said: “We are extremely excited about the credit opportunity in the current environment. The market dislocation in the energy sector has created a rare opportunity to generate “equity‐like” investment returns for Fund V and REL at more senior and better protected entry positions in the capital structure.”

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