9th Jan 2015 07:26
LONDON (Alliance News) - Riverstone Holdings LLC on Friday said it has created Riverstone Credit Opportunities LP, a new fund designed to capitalise on the current issues facing leveraged capital markets for energy companies.
Riverstone Holdings has committed a total of USD375 million to the new vehicle, comprising USD250 million from Riverstone Global Energy and Power Fund V and up to USD125 million from FTSE 250-listed vehicle Riverstone Energy Ltd.
"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," said Riverstone Holdings Co-Founders Pierre Lapeyre and David Leuschen.
By Sam Unsted; [email protected]; @SamUAtAlliance
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