
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.
