Goldman Sachs MLP and Energy Renaissance Fund Announces Quarterly Distribution of $0.165 Per Share

Rhea-AI Summary

Goldman Sachs MLP and Energy Renaissance Fund (GER) has announced a quarterly distribution of $0.165 per common share, payable on May 28, 2021. The fund's portfolio manager, Kyri Loupis, stated that this increase reflects the improving market fundamentals and the fund's cash flow generation. The distribution is expected to include a portion treated as a return of capital for tax purposes, with final characterization pending in early 2022. The fund, managed by GSAM’s Energy & Infrastructure Team, focuses on MLPs and energy sector investments.

Positive

• Quarterly distribution increased to $0.165 per share, indicating strong cash flow generation.
• Management signals confidence in market fundamentals, reflecting potential for future payouts.

Negative

• A portion of the distribution could be treated as a return of capital, which may affect future tax liabilities.

Goldman Sachs MLP and Energy Renaissance Fund (the “Fund”) (NYSE: GER) is announcing its quarterly distribution of $0.165 per common share. The distribution is payable on the date noted below.

“We believe this increased level of payout to be representative of both the market’s improving fundamentals as well as the Fund’s cash flow generation. We appreciate our investors’ continued ownership in the Fund and will continue to evaluate all ways to best maximize shareholder value going forward,” remarked Portfolio Manager Kyri Loupis.

The distribution schedule is as follows:

Ex-Date:						May 21, 2021
Record Date:						May 24, 2021
Payable Date:						May 28, 2021
Amount:						$0.165 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 early 2022 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.

In addition, portfolio holdings as of March 31, 2021, as well as additional information regarding the Fund, can be accessed through the GSAM 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 (“GSAM’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 reorganization of the Goldman Sachs MLP Income Opportunities Fund with and into the Fund was completed on September 28, 2020. The investment objective, strategies and restrictions of the Fund remain unchanged. 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.

GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS) and supervises $2.00 trillion as of March 31, 2021.1 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.

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.

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

Compliance Code: 240095-OTU
Date of First Use: May 14, 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005316/en/

FAQ

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

The quarterly distribution amount is $0.165 per common share.

When is the payable date for the GER distribution?

The payable date for the distribution is May 28, 2021.

What does the increase in distribution for GER indicate?

The increase in distribution reflects improving market fundamentals and the fund's cash flow generation.

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

It is anticipated that a portion of the distribution will be treated as a return of capital, with final tax implications to be determined in early 2022.