The credit score crew at Riverstone Holdings has left to type a brand new energy-focused personal credit score supervisor referred to as Breakwall Capital.

Breakwall is led by Christopher Abbate, Jamie Brodsky and Daniel Flannery, who based Riverstone Credit score Companions in 2014 and have labored collectively for nearly twenty years. The brand new agency will deal with direct lending to center market and growing vitality firms.

It’ll hunt down investments across the themes of elevated effectivity, sustainability and decarbonization of vitality infrastructure; waste-to-value and the round economic system; subsequent technology fuels and the electrification of transport; stabilization of the ability grid; and responsibly sourced pure assets.

“At Breakwall, we imagine that addressing the consequences of local weather change is a posh concern the place it’s crucial to concurrently stability vitality affordability, reliability and sustainability if there may be to be a significant, lasting affect,” mentioned Brodsky, managing accomplice and co-chief govt of Breakwall Capital.

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“As ‘vitality lifers’ who’ve constructed careers financing firms spanning the complete gamut of the vitality worth chain by means of all market cycles, we’re ideally positioned to assist tackle the “Power Trilemma,” striving to advance decarbonization whereas enhancing vitality safety with each transaction.”

Abbate, managing accomplice and co-chief govt of Breakwall Capital, added that the crew will collaborate with their former companions at Riverstone on the wind down of all current Riverstone Credit score automobiles.

“Whereas we’re extremely excited for our future as an unbiased and worker owned agency, our funding technique will stay targeted in the identical balanced and constant rules that made us profitable prior to now,” mentioned Flannery, managing accomplice and president of Breakwall.

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“We’ll proceed to deal with brief length, first lien senior secured loans to middle-market and growing vitality firms. The affect of our capital will proceed to be felt on the floor degree of firms driving our vitality future.”

Breakwall formally launched on 2 January 2024. It has roughly $1.5bn (£1.19bn) in belongings below administration, which incorporates dry powder.

Breakwall can even be managing a enterprise that Riverstone Credit score Companions launched final June with Vitol, an vitality buying and selling firm, referred to as Valor Upstream Credit score Companions, which is searching for to make structured credit score investments in North American upstream oil and fuel firms.

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