Goldman Sachs Asset Management Announces Quarterly Distribution of $0.220 Per Share

Rhea-AI Summary

The Goldman Sachs MLP and Energy Renaissance Fund (NYSE: GER) has announced a quarterly distribution of $0.220 per common share, a 10% increase from the previous quarter. This distribution is payable on February 28, 2023, with the ex-date on February 21 and record date on February 22. A portion of this distribution may be treated as a return of capital for tax purposes, with final determinations made in 2023. Portfolio Manager Kyri Loupis emphasized the commitment to return income to shareholders. The Fund focuses on master limited partnerships and energy investments, seeking high total returns.

Positive

• 10% increase in quarterly distribution to $0.220 per share.
• Commitment to return the majority of investment income to shareholders.
• Focused on master limited partnerships and energy sector investments.

Negative

• Final tax characterization of the distribution is uncertain and may differ.
• Shares may trade at a discount to net asset value (NAV), increasing risk.

NEW YORK--(BUSINESS WIRE)-- Goldman Sachs MLP and Energy Renaissance Fund (the “Fund”) (NYSE: GER) is announcing its quarterly distribution of $0.220 per common share, which represents a 10% increase over the distribution amount for the previous quarter. The distribution is payable on the date noted below.

The distribution schedule is as follows:

Ex-Date:			February 21, 2023
Record Date:			February 22, 2023
Payable Date:			February 28, 2023
Amount:			$0.220 per share

It is currently anticipated that a portion of this distribution will be treated for tax purposes as a return of capital, however, the final characterization of such distribution will be made in 2023 when the Fund can determine its earnings and profits for the full year. The final tax status of the distribution may differ substantially from this preliminary information.

“As the Fund’s investment income continues to grow we remain committed to returning the majority of that income to shareholders and are thus increasing our dividend by 10% this quarter,” said lead Portfolio Manager Kyri Loupis.

In addition, portfolio holdings as of December 31, 2022, as well as additional information regarding the Fund, can be accessed through the Goldman Sachs Asset Management Closed-End Fund landing page at www.GSAMFUNDS.com/cef.

Goldman Sachs MLP and Energy Renaissance Fund

Goldman Sachs MLP and Energy Renaissance Fund is a non-diversified, closed-end management investment company managed by Goldman Sachs Asset Management’s Energy & Infrastructure Team, which is among the industry’s largest MLP investment groups.

The Fund began trading on the NYSE on September 26, 2014. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in master limited partnerships (“MLPs”) and other energy investments. The Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The Fund invests across the energy value chain, including upstream, midstream and downstream investments.

About Goldman Sachs Asset Management, L.P.

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market – overseeing more than $2 trillion in assets under supervision worldwide as of December 31, 2022¹. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.

Disclosures

Shares of closed-end investment companies frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. At the time of sale, an investor’s shares may have a market price that is above or below NAV, and may be worth more or less than the original investment. There is no assurance that the Fund will meet its investment objective. Past performance does not guarantee future results. Investments in securities of MLPs involve risks that differ from investments in common stock, including among others risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund’s investment objective, risks, charges and expenses before investing.

Compliance Code: 306555.OTU

Date of First Use: February 10, 2023

_________________________ 1 Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion. AUS figure as of December 31, 2022.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005051/en/

Media Contact:

Avery Reed

Tel: 212-902-5400

Investor Contact:

Charles Sturges

Tel: 212-902-7996

Source: Goldman Sachs Asset Management

FAQ

What is the quarterly distribution amount for Goldman Sachs MLP and Energy Renaissance Fund (GER)?

The quarterly distribution amount is $0.220 per common share.

When is the payment date for the distribution by Goldman Sachs MLP and Energy Renaissance Fund (GER)?

The payment date is February 28, 2023.

How much has the distribution increased for Goldman Sachs MLP and Energy Renaissance Fund (GER)?

The distribution has increased by 10% compared to the previous quarter.

What is the ex-date for the Goldman Sachs MLP and Energy Renaissance Fund (GER) distribution?

The ex-date is February 21, 2023.

What portion of the distribution for GER might be treated as return of capital?

A portion of the distribution is anticipated to be treated as a return of capital for tax purposes.