Vitol, the largest independent energy trading company globally, and Riverstone Credit Partners (“RCP”), a dedicated credit investment platform focused on energy and the energy transition, announced today the formation of Valor Upstream Credit Partners, L.P. (“VCP” or the “Fund”).

VCP will seek to 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 providing companies with a flexible solution to accelerate growth and drive shareholder value.

VCP will be managed by RCP, which has a track record of successfully investing capital across the entire energy value chain.

Christopher Abbate and Jamie Brodsky, Co-Heads of RCP, stated: “Since inception, 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. We are thrilled to partner with Vitol on this new investment platform, which combines our energy credit origination and structuring expertise and their deep understanding of global commodity markets.”

Ben Marshall, Vitol Head of Americas, added: “Vitol has a long history of investing in quality upstream assets. As we continue to invest across the energy spectrum in North America, we see a tremendous opportunity to support companies in the upstream sector via private credit. We are pleased to partner with RCP, a leader in its field, to execute on this strategy.”

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.

Please direct all VCP business development inquiries to VCP@riverstonecredit.com.