Riverstone’s credit score staff launches new energy-focused personal credit score agency

The credit score staff at Riverstone Holdings has left to type a brand new energy-focused personal credit score supervisor referred to as Breakwall Capital.

Breakwall is led by Christopher Abbate, Jamie Brodsky and Daniel Flannery, who based Riverstone Credit score Companions in 2014 and have labored collectively for nearly 20 years. The brand new agency will deal with direct lending to center market and creating vitality corporations.

It is going to search out investments across the themes of elevated effectivity, sustainability and decarbonization of vitality infrastructure; waste-to-value and the round economic system; subsequent era fuels and the electrification of transport; stabilization of the facility grid; and responsibly sourced pure sources.

“At Breakwall, we imagine that addressing the results of local weather change is a fancy difficulty the place it’s crucial to concurrently stability vitality affordability, reliability and sustainability if there’s to be a significant, lasting impression,” stated Brodsky, managing associate and co-chief government of Breakwall Capital.

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“As ‘vitality lifers’ who’ve constructed careers financing corporations spanning the total gamut of the vitality worth chain by all market cycles, we’re ideally positioned to assist handle the “Power Trilemma,” striving to advance decarbonization whereas enhancing vitality safety with each transaction.”

Abbate, managing associate and co-chief government of Breakwall Capital, added that the staff will collaborate with their former companions at Riverstone on the wind down of all current Riverstone Credit score autos.

“Whereas we’re extremely excited for our future as an unbiased and worker owned agency, our funding technique will stay targeted in the identical balanced and constant rules that made us profitable up to now,” stated Flannery, managing associate and president of Breakwall.

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“We’ll proceed to deal with brief length, first lien senior secured loans to middle-market and creating vitality corporations. The impression of our capital will proceed to be felt on the floor stage of corporations driving our vitality future.”

Breakwall formally launched on 2 January 2024. It has roughly $1.5bn (£1.19bn) in property below administration, which incorporates dry powder.

Breakwall may even be managing a enterprise that Riverstone Credit score Companions launched final June with Vitol, an vitality buying and selling firm, referred to as Valor Upstream Credit score Companions, which is searching for to make structured credit score investments in North American upstream oil and fuel corporations.

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