Overview
Riverstone Credit Opportunities Income aims to provide investors with a high level of income, targeting a dividend yield of 8-10%, by providing senior-secured loans to medium-sized energy-related companies. The trust will invest exclusively in the global energy sector, where demand for capital remains strong despite fluctuating commodity prices.
Key details on the profile of the assets to be targeted include:
- Typical deal size: $25-175m; targeting lower and middle market companies that do not conform to the requirements of traditional financing sources;
- Will primarily focus on companies that are temporarily unable to access more traditional sources of debt financing. The company does not generally expect to focus on small to middle-sized energy companies which it does not believe will ultimately develop traditional lender ‘‘conforming’’ characteristics, either in terms of size or the maturity of their asset base;
- Will seek to construct a portfolio of investments that is diverse within the energy industry. Riverstone Credit Opportunities expects to invest across the entire energy value chain, reviewing opportunities in the upstream, midstream, and downstream sub-sectors, along, and to a lesser degree, oilfield services, power and coal investments;
- Will seek to ensure that the company invests across an appropriately diverse set of geographies and with an end-market exposure to a mix of different commodities so that, as markets and drilling technologies evolve, the company will not be overexposed to any one area that might fall out of favour;
- While the company has a global mandate, investments will initially focus on North America, where the manager has extensive experience;
- No more than 15% of the company’s gross assets will be accounted for by any single borrower and only borrowers with a total indebtedness of less than 60% of gross assets will be invested in by the company.
You can access the fund’s website here
Fundamentals
Price
Research History
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14 Jul 2020 13 min read
QuotedData’s Investment Companies Quarterly Review – Second Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit When the going gets […]
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07 May 2020 11 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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17 Apr 2020 12 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Apr 2020 11 min read
QuotedData’s Investment Companies Roundup – April 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over March: An update note […]
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10 Mar 2020 9 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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24 Jan 2020 28 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Jul 2019 9 min read
Quarterly investment companies roundup – Second quarter 2019
Quarterly investment companies roundup – Second quarter 2019 QuotedData news Global equities re-found momentum in June after a cautious April and May. How much longer this ten-year bull market can sustain itself continues to be the subject of much debate. The prospect of interest rate cuts in the US has re-invigorated sentiment for the time […]
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07 Jun 2019 4 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
News
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18 Feb 2021 2 min read
Riverstone Credit bucks poor energy markets for 2020
Riverstone Credit bucks poor energy markets for 2020 – Riverstone Credit Opportunities Income has published results for the year ended 31 December 2020. The company finished the year with an NAV of $1.04. It was also able to declare dividends totalling 7 cents per share for 2020. These were covered by earnings of 7.59 cents. The […]
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07 Jan 2021 2 min read
Riverstone Credit updates on deals
Riverstone Credit updates on deals – Riverstone Credit Opportunities Income has originated one new investment and realised some or all of a number of existing investments. New Deal Activity § Project Mirror – RCOI participated in a $20.0 million first lien delayed-draw term loan to a community solar development company. Led by operating partners of a […]
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13 Aug 2020 1 min read
QuotedData’s morning briefing 13 August 2020
In QuotedData’s morning briefing 13 August 2020: Riverstone Credit Opportunities Income (RCOI) has announced its interim results for the six months ended 30 June 2020. During the period, its NAV per share has fallen by 1.0% to US$1.004 (31 December 2019: US$1.014), although the company made a profit of US$2.46 million. RCOI has announced the […]
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29 Jul 2020 3 min read
QuotedData’s morning briefing 29 July 2020
In QuotedData’s morning briefing 29 July 2020: Primary Health Properties (PHP) reported interim results to 30 June 2020, with performance highlights that include: Adjusted EPRA earnings per share increased by 7.1%; Average uplift of 2.2% per annum on rent reviews completed in the period (FY 2019: 1.9%; FY 2018: 1.4%); Additional annualised rental income on a […]
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20 Feb 2020 1 min read
QuotedData’s other news 20 February 2020
In QuotedData’s other news 20 February 2020 Hadrian’s Wall Secured Investments (HWSL) has served notice on Hadrian’s Wall Capital Limited to terminate its investment advisory agreement, this will take effect in 12 months. This is tied up with the decision to wind up the fund taken recently. India’s Supreme Court has ruled in favour of Alpha […]
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20 Dec 2019 1 min read
QuotedData’s other news 20 December 2019
In QuotedData’s other news 20 December 2019 Polar Capital Global Healthcare reported a -1.2% total return on NAV for the year ended 30 September 2019, behind the MSCI ACWI Health Care Index which returned 3.1%. The return to shareholders was -1.3%. The dividend has been upped to 2.1p from 2p. The biggest drags on performance were healthcare […]
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15 Aug 2019 2 min read
Energy-focused Riverstone Credit Opportunities Income reports early results
Energy-focused Riverstone Credit Opportunities Income reports early results – Riverstone Credit Opportunities Income (RCOI) is one of the newest companies in the listed investment sector (click here to read more about the company); the company has this morning reported half-year results to end-June 2019, though the actual period covered is from 28 May 2019 onwards Of the $100m […]
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28 May 2019 1 min read
QuotedData’s other news 28 May 2019
In QuotedData’s other news 28 May 2019: A new fund – Riverstone Credit Opportunities : RCOI – starts trading today, having raised $100m from professional investors to lend money to energy (mainly oil and gas) companies CQS New City High Yield announced that an administrative error had led to it overstating its NAV between 25 April […]