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Riverstone Credit Opportunities Income (RCOI) announced its unaudited net asset value per Ordinary Share was $0.90 as at 31 March 2026, an increase from $0.89 as at 31 December 2025. The Company also redeemed 12,134,802 Ordinary Shares on 31 March 2026 at US$0.89 per share, which represented approximately 25 per cent of its Ordinary Shares in issue on the redemption date.
| Date | 17 Apr 2026 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 8195A |
17 April 2026
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Riverstone Credit Opportunities Income
Investment and Quarterly Update
Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, announces its portfolio performance for the quarter ended 31 March 2026.
Unaudited Net Asset Value
As at 31 March 2026, the unaudited net asset value per Ordinary Share, including net revenue for the quarter, was $0.90 ($0.89: 31 December 2025) a slight increase over the quarter.
Portfolio Summary and Key Performance Indicators
· As announced on 31 March 2026, the Company redeemed 12,134,802 Ordinary Shares at a redemption price of US$0.89 per Ordinary Share. The Ordinary Shares redeemed were equal to approximately 25 per cent of the Company's Ordinary Shares in issue as at the Redemption Date.
· Portfolio of 100% floating rate, short duration, senior secured loans, from investing in companies engaged in driving forward the energy transition
· 35.7% NAV total return3 achieved since IPO in May 2019
· 43.0 cents in dividends paid since inception4
Cumulative Portfolio Summary
Unrealised Portfolio[1]
|
Investment Name |
Subsector |
Commitment Date |
Cumulative Committed Capital ($mm) |
Cumulative Invested Capital ($mm) |
Gross Realised Capital ($mm)1 |
Gross Unrealised Value ($mm) |
Gross Realised Capital & Unrealised Value ($mm) |
Fair Value as of 31 Mar 20262 |
Fair Value as of 31 Dec 20252 |
31 Mar 2026 Gross MOIC |
31 Mar 2026 Net MOIC |
|
Caliber Midstream Revolver |
Infrastructure |
Aug-19 |
0.7 |
0.7 |
1.1 |
0.0 |
1.1 |
0.0 |
0.9 |
1.66x |
1.46x |
|
Geostore Holdings LP |
Infrastructure Services |
Mar-22 |
14.8 |
14.8 |
6.1 |
4.8 |
10.8 |
4.8 |
5.0 |
0.73x |
0.56x |
|
Seawolf Water Resources |
Services |
Sept-22 |
9.0 |
9.0 |
3.2 |
11.2 |
14.3 |
11.2 |
10.9 |
1.59x |
1.45x |
|
Hoover Circular Solutions |
Infrastructure Services |
Nov-22 |
13.7 |
13.7 |
5.5 |
14.3 |
19.8 |
14.3 |
13.9 |
1.44x |
1.31x |
|
|
|
|
$38.2 |
$38.2 |
$15.7 |
$30.3 |
$46.0 |
|
|
1.21x |
1.06x |
Realised Portfolio
|
Investment Name |
Subsector |
Commitment Date |
Realisation Date |
Cumulative Committed Capital ($mm) |
Cumulative Invested Capital ($mm) |
Gross Realised Capital ($mm)1 |
31 Mar 2026 Gross MOIC |
31 Mar 2026 Net MOIC |
|
Rocky Creek Resources |
Exploration & Production |
Jun-19 |
Dec-19 |
6.0 |
4.3 |
4.9 |
1.15 x |
1.13 x |
|
CIG Logistics |
Infrastructure Services |
Jan-20 |
Jan-20 |
8.7 |
8.7 |
8.9 |
1.02 x |
1.02 x |
|
Mallard Exploration |
Exploration & Production |
Nov-19 |
Apr-20 |
13.8 |
6.8 |
7.7 |
1.13 x |
1.12 x |
|
Market Based |
Multiple |
Aug-20 |
Nov-20 |
13.4 |
13.4 |
13.6 |
1.01 x |
1.00 x |
|
Project Yellowstone |
Infrastructure |
Jun-19 |
Mar-21 |
5.8 |
5.8 |
7.2 |
1.23 x |
1.16 x |
|
Ascent Energy |
Exploration & Production |
Jun-19 |
Jun-21 |
13.3 |
13.3 |
16.1 |
1.21 x |
1.13 x |
|
Pursuit Oil & Gas |
Exploration & Production |
Jul-19 |
Jun-21 |
12.3 |
12.3 |
15.0 |
1.22 x |
1.14 x |
|
U.S. Shipping |
Infrastructure Services |
Feb-21 |
Aug-21 |
6.5 |
6.5 |
7.3 |
1.13 x |
1.11 x |
|
Aspen Power Partners |
Infrastructure |
Dec-20 |
Oct-21 |
6.9 |
3.4 |
4.3 |
1.27 x |
1.24 x |
|
Project Mariners |
Infrastructure Services |
Jul-19 |
Apr-22 |
13.2 |
13.2 |
17.6 |
1.33 x |
1.22 x |
|
Roaring Fork Midstream |
Infrastructure |
Mar-21 |
Jun-22 |
5.9 |
5.9 |
6.9 |
1.16 x |
1.11 x |
|
FS Crude, LLC |
Infrastructure |
Mar-20 |
Sept-22 |
13.7 |
13.7 |
16.9 |
1.23 x |
1.13 x |
|
EPIC Propane Pipeline, LP |
Infrastructure |
Dec-19 |
Sept-22 |
14.8 |
14.8 |
19.6 |
1.32 x |
1.21 x |
|
Circulus Holdings, PBLLC |
Infrastructure |
Aug-21 |
Oct-22 |
12.3 |
12.3 |
14.0 |
1.14 x |
1.10 x |
|
Hoover Circular Solutions |
Infrastructure Services |
Oct-20 |
Nov-22 |
15.4 |
15.4 |
17.0 |
1.10 x |
1.01 x |
|
Streamline Innovations Inc. |
Infrastructure Services |
Nov-21 |
Jun-23 |
13.8 |
6.9 |
8.9 |
1.29 x |
1.22 x |
|
Clean Energy Fuels Corp |
Energy Transition |
Dec-22 |
Dec-23 |
13.9 |
13.9 |
15.7 |
1.14 x |
1.10 x |
|
EPIC Propane Pipeline, LP |
Infrastructure |
Sept-22 |
Apr-24 |
13.9 |
13.9 |
17.2 |
1.24x |
1.18x |
|
Blackbuck Resources LLC |
Infrastructure |
Jun-21 |
Sept-24 |
11.5 |
11.0 |
16.1 |
1.46x |
1.33x |
|
Streamline Innovations Inc. |
Infrastructure Services |
Jun-23 |
July-25 |
9.9 |
5.4 |
7.1 |
1.33x |
1.25x |
|
Imperium3NY LLC |
Energy Transition |
Apr-21 |
Sept-25 |
6.8 |
5.4 |
6.7 |
1.25x |
1.07x |
|
Max Midstream |
Infrastructure |
Dec-22 |
Sept-25 |
5.0 |
5.0 |
7.5 |
1.51x |
1. 40x |
|
Caliber Midstream |
Infrastructure |
Aug-19 |
Jan-26 |
3.4 |
3.4 |
0.6 |
0.17x |
(0.09)x |
|
|
|
|
|
$240.3 |
$214.6 |
$256.8 |
1.20x |
1.12x |
The Gross Realised Capital column includes interest, fee income, and principal received. The Gross Unrealised Value column includes the amortization of OID, accrued interest, fees and any unrealised change in the value of the investment.
For Riverstone Credit Opportunities Income Plc:
Catherine Carron
+44 28 9693 0220
|
J.P. Morgan Cazenove (Corporate Broker) |
+44 (0)20 7742 4000 |
|
William Simmonds |
|
|
Jade Lee |
|
|
|
|
About Riverstone Credit Opportunities Income Plc:
RCOI lends to companies that build and operate the infrastructure used to generate, transport, store and distribute both renewable and conventional sources of energy, and companies that provide services to that infrastructure. RCOI also lends to companies seeking to facilitate the energy transition by decarbonizing the energy, industrial and agricultural sectors, building sustainable infrastructure and reducing or sequestering carbon emissions. The Company seeks to ensure that its investments are having a positive impact on climate change by structuring each deal as either a green loan or a sustainability-linked loan, documented using industry best practices.
As previously announced, Riverstone Holdings LLC, and their affiliate Riverstone Investment Group (collectively, "Riverstone") entered into a sub management agreement for RCOI with Breakwall Capital LP. Breakwall is an independent asset manager regulated by the SEC as a Registered Investment Advisor. It is owned and operated by the former members of the Riverstone Credit Partners team.
For further details, see https://www.riverstonecoi.com/.
Neither the contents of RCOI's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.
1 Gross realised capital is total gross income realised on invested capital.
2 Reflects the total fair market value in millions.
3 NAV total return equals cumulative paid dividend cents per share and NAV per share as of 31 March 2026 divided by the opening capital net of share issuance costs as of 28 May 2019.
4 Reflects cumulative dividend cents per share declared as of 31 March 2026 and paid as of 31 March 2026.