HOUSTON, Jan. 5, 2016 /PRNewswire/ -- Rivington Securities, LLC, a wholly-owned broker-dealer subsidiary of Rivington Holdings, LLC (referred herein as "Rivington") today announced an engagement with GSO Capital Partners LP ("GSO"), the credit arm of Blackstone (NYSE: BX). Under this arrangement, Rivington will assist GSO in identifying, structuring, servicing and administering credit and equity co-investment opportunities in the middle market upstream energy sector.
"In light of current market fundamentals, we see a tremendous opportunity to provide additional capital support to proven management teams and private equity sponsors," commented Christopher R. Wagner, Rivington's founder and principal member. "The regulatory environment has made it more difficult for many traditional capital groups to deliver creative, more flexible products. We believe the private credit markets are best suited to step in and fill that void, and GSO, a leader in the private energy credit, is the best partner for us."
The Rivington/GSO engagement will target middle market upstream energy participants with a focus on those companies with private equity sponsors. Structures provided by GSO through the Rivington relationship will include traditional debt structures as well as equity co-investments and structured equity products.
"Our decision to partner with GSO was an easy one based on their track record and market reputation," remarked Rick Makin, a senior managing director with Rivington. "With our energy contacts and GSO's funding sources and financial strength, we believe the opportunity set could be $1 billion of new investments within the first few years."
"We are pleased to partner with the Rivington team in this challenging market environment. Chris and Rick understand the capital needs of middle market upstream borrowers and have a well-deserved reputation as problem solvers – a skill set that is especially valuable in today's market," said Dwight Scott, Senior Managing Director at GSO.
Along with the GSO activities mentioned above, Rivington will continue to provide private equity placement and general advisory services to the upstream energy sector.
About Rivington Holdings, LLC
Rivington Holdings, LLC, is an independent investment and merchant banking firm specializing in institutional private capital placements to the middle market upstream energy sector. Founded in 2002, Rivington has successfully executed 86 private capital and M&A transactions with total consideration exceeding $6.5 billion. Rivington Securities, LLC is a registered Broker-Dealer and member of FINRA and SIPC. Further information can be found at Rivington's website: www.rivingtoncap.com.
GSO Capital Partners LP is the global credit investment platform of Blackstone. With approximately $81 billion of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies. Further information can be found at www.blackstone.com/businesses/aam/credit-(gso).
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SOURCE Rivington Holdings, LLC