REG - Riverstone Credit - Sub-Management Agreement

Riverstone Credit Opportunities IncomeAnnouncement

06/11/2023 07:00

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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 (mailto: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/
(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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