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Alternative Assets  + Real Assets  |  June 23, 2023
Vitol, RCP Form Energy-Focused Valor Upstream Credit Partners
Joe Palmisano
By: Joe Palmisano

Vitol, RCP Form Energy-Focused Valor Upstream Credit Partners

Vitol, an independent energy trading company, and Riverstone Credit Partners, a credit investment platform focused on energy and the energy transition, have formed Valor Upstream Credit Partners LP.

VCP will make structured credit investments in North American upstream oil and gas companies. The fund will primarily target event-driven financing opportunities focused on debt refinancing, acquisition funding and development capital. VCP will be managed by RCP.

“Since inception (2014), RCP has successfully committed over $1 billion of capital to support North American upstream oil and gas companies. As traditional capital providers continue to exit the space, we see tremendous opportunities to partner with operators in growing critical energy resources,” said Christopher Abbate and Jamie Brodsky, Co-Heads of RCP.

RCP has committed approximately $5.1 billion of capital to over 60 portfolio companies. Riverstone Holdings was founded in 2000 by David Leuschen and Pierre Lapeyre with approximately $43 billion of capital raised.

Vinson & Elkins LLP served as legal counsel to Vitol and Latham & Watkins LLP served as legal counsel to RCP on the formation of the Fund.

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Inside The Story

VitolRiverstone Credit Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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