Goldman Sachs MLP and Energy Renaissance Fund to be liquidated
Jun. 07, 2023 6:27 PM ETGoldman Sachs MLP and Energy Renaissance Fund (GER)WMB, EPD, PAA, MMP, WES, DCP, TRGP, MPLX, CEQP, ETBy: Anuron Mitra, SA News Editor19 Comments
Khanchit Khirisutchalual
- Goldman Sachs Asset Management (GSAM) on Wednesday said it was liquidating the Goldman Sachs MLP and Energy Renaissance Fund (NYSE:GER).
- GER's board of trustees, at GSAM's recommendation, approved a plan of liquidation and dissolution for the fund.
- GER was started in 2014 and invests primarily in master limited partnerships and energy infrastructure companies in North America. Its holdings include firms such as Energy Transfer LP (ET), MPLX LP (MPLX) and Western Midstream Partners LP (WES).
- "After careful consideration, we concluded that liquidating the Fund was the best path forward in order to realize value to shareholders," Kyri Loupis, co-chief investment officer of the liquid real assets business within GSAM and portfolio manager for GER, said in a statement.
- "We remain very constructive on the fundamentals of the energy infrastructure sector and believe that it is poised to deliver attractive growth in the next few years," Loupis added.
- Goldman Sachs MLP and Energy Renaissance Fund (GER) in early May raised its quarterly dividend by 9.1% to $0.24/share.