Vitol and RCP form Valor Upstream Credit Partners

• Vitol is an independent energy trading company
• Riverstone Credit Partners is a credit investment platform focused on energy and the energy transition
• VCP will be managed by RCP

Vitol and Riverstone Credit Partners have formed Valor Upstream Credit Partners. No financial terms were disclosed.

New York and Houston-based VCP will seek to make structured credit investments in North American upstream oil and gas companies

Vitol is an independent energy trading company globally, and Riverstone Credit Partners is a credit investment platform focused on energy and the energy transition.

VCP will be managed by RCP.

On the transaction, Christopher Abbate and Jamie Brodsky, co-heads of RCP, said in a statement, “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.”

Vinson & Elkins LLP served as legal counsel to Vitol and Latham & Watkins LLP served as legal counsel to RCP on the formation of VCP.