(Alliance News) - Riverstone Credit Opportunities Income PLC on Friday hails a "robust portfolio performance" its first quarter.
The energy infrastructure and energy-transition credit investor said its net asset value per share at March 31 was USD1.06, unchanged from December 31, 2023.
This was "reflecting continued strong performance by the unrealised portfolio", the company said.
Riverstone Credit has also completed the re-balancing of its portfolio to accredit energy-transition focused investments through green or sustainably-linked structures. Its priority remains "optimising the portfolio to ensure long-term creation value".
Chair Reuben Jeffrey III said: "The Riverstone Credit Opportunities Income portfolio once again performed strongly in the first quarter of 2024. The company continues to be a beneficiary of the current interest rate environment with a strategy focused on floating rate, short duration loans that are designed to capture elevated value for our shareholders in the current macro environment."
Chair Jeffrey additionally added: "The board is pleased with the seamless transition to Breakwall Capital as sub-manager and note that the portfolio management team is continuing to perform to the same high standard as they always have done since Riverstone Credit Opportunities Income's listing."
Christopher Abbate and Jamie Brodsky, co-founders of Breakwall Capital, said: "We continue to be encouraged by the company's strong performance and its highly advantageous positioning in the current environment.
"In addition to the attractive financial returns delivered, we are pleased that the portfolio now consists entirely of green and sustainability-linked loans that contribute positively towards the energy transition across a wide range of applications. The company is focused, as ever, on providing strong returns and dividends to investors in order to deliver the targeted annual dividend returns of 8% to 10% on subscribed capital."
Riverstone Credit shares were up 0.7% to 0.90 pence each in London on Friday afternoon.
By Emily Parsons, Alliance News reporter
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Riverstone Cred (RCOI)