New Vitol fund for oil and gas

摘要

INDEPENDENT energy trader Vitol has launched a fund partnership with an energy-focused asset manager to provide financing to the upstream oil and gas sector in North America.Valor Upstream Credit Partners (VCP) is a fund launched by Vitol, the world's largest independent oil trader, led by chief executive Russell Hardy, and financial partner Riverstone Credit Partners of international asset manager Riverstone Holding LLC.Through the fund, Vitol will "seek to make structured credit investments" in upstream oil and gas companies in North America, the company said last week."We see a tremendous opportunity to support companies in the upstream sector via private credit," Vitol head of Americas Ben Marshall said.The focus of the investment vehicle, which will be managed by Riverstone, will include debt refinancing, funding for acquisitions and the providing of development capital to companies.