Riverstone Credit Opportunities Income PLC - London-based energy infrastructure and energy transition credit investor - Intends to enter agreement alongside affiliate, Riverstone Investment Group, with Breakwall Capital LLC to provide sub-management services for all credit vehicles managed by Riverstone. Breakwall is a newly formed independent asset-management firm, owned and operated by the existing Riverstone Credit Partners team.
Under the terms of the deal, Riverstone will continue to manage RCOI on the terms of its existing management agreement. There will be no increase in fees payable by RCOI as a result of the modified arrangements. RCOI says it has been involved in the discussions leading up to this announcement, and is confident that "the intended structure of Riverstone as manager and Breakwall as the future sub-manager will continue to deliver strong returns for shareholders".
Current stock price: USD0.88, up 2.9% in London on Monday
12-month change: up 3.5%
By Holly Beveridge, Alliance News reporter
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Riverstone Cred (RCOI)