New Stream Launches Energy Finance Fund

Oct 9 2008 | 11:42am ET

While banks continue to work on their books and retrench from the market, one alternatives shop is picking up where they’re leaving off.

Ridgefield, Conn.-based New Stream Capital has launched a specialty energy finance fund focused on lending to the North American oil and gas sector. The New Stream Energy Solutions fund provides working-capital loans to exploration and production and distribution companies. The fund has approximately $100 million in assets and commitments.

Energy Solutions will invest across the full spectrum of the capital structure—from senior debt to direct ownership—in order to tailor investments that fit the unique funding needs of each project, and will focus primarily on transactions between $5 million and $40 million. It recently completed a $10 million financing deal for a natural gas producer in Kentucky, a $16 million loan to an oil and gas producer in Texas and a $28 million loan for an oil and gas producer in Texas.

“The launch of this energy finance fund enables investors to gain exposure to the energy markets without taking the directional risk normally associated with more typical trading strategies,” said David Bryson, managing partner.  “The energy sector offers a unique opportunity for investors.  A significant number of lenders have scaled back due to the ongoing credit crisis precisely at the time when energy producers need to increase capacity.”

New Stream currently manages over $1 billion of total assets.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.