Goldman Sachs Asset Management Closed-End Fund Announces Results of Annual Shareholder Meeting

Rhea-AI Summary

Goldman Sachs Asset Management announced the results of the Fund’s annual shareholder meeting, where Lawrence W. Stranghoener was elected as the new Class III Trustee. The Fund focuses on high total returns and current distributions, primarily investing in MLPs and energy sector assets, particularly midstream MLPs. It has been trading on the NYSE since September 26, 2014. The press release also highlights risks associated with investing in closed-end investment companies, including potential trading discounts and various investment risks.

Positive

• Lawrence W. Stranghoener elected as Class III Trustee
• The Fund focuses on midstream MLP investments in the energy sector

Negative

• Shares may trade at a discount to net asset value (NAV), increasing investor loss risk
• Investments in MLPs involve unique risks, including dilution and cash flow risks

Goldman Sachs Asset Management (“GSAM”), investment adviser for the Goldman Sachs MLP and Energy Renaissance Fund (GER) (the “Fund”), announced the results from the Fund’s annual shareholder meeting held today.

Election of Trustee

Shareholders of the Fund elected one Class III Trustee, Lawrence W. Stranghoener.

For additional information, please visit the Fund’s website at www.gsamfunds.com/cef.

The Fund

The Fund is a non-diversified, closed-end management investment company managed by GSAM’s Energy Infrastructure & Renewables Team, which is among the industry’s largest master limited partnerships (“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 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.

GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), and supervises $1.95 trillion as of December 31, 2020.¹ GSAM has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

¹ Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.

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.

For additional information, please visit the Fund’s website at www.GSAMFUNDS.com/cef.

© 2021 Goldman Sachs. All rights reserved.
Compliance code: 235414-OUT
Date of first use: 3/25/2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005959/en/

FAQ

What were the results of the Goldman Sachs MLP and Energy Renaissance Fund (GER) annual shareholder meeting?

Lawrence W. Stranghoener was elected as the new Class III Trustee.

What is the focus of the Goldman Sachs MLP and Energy Renaissance Fund (GER)?

The Fund primarily invests in MLPs and energy assets, with an emphasis on midstream MLP investments.

When did the Goldman Sachs MLP and Energy Renaissance Fund (GER) start trading on the NYSE?

The Fund began trading on the NYSE on September 26, 2014.

What risks are associated with investing in the Goldman Sachs MLP and Energy Renaissance Fund (GER)?

Investors face risks such as trading at a discount from net asset value (NAV), dilution risks, and cash flow risks.