NEW YORK--(EON: Enhanced Online News)--Goldman Sachs Asset Management, L.P. (“GSAM”), investment adviser for the Goldman Sachs MLP Income Opportunities Fund (GMZ) and Goldman Sachs MLP and Energy Renaissance Fund (GER) (together, the “Funds”) announces the retirement of Ashok N. Bakhru, John P. Coblentz, Jr., and Richard P. Strubel from each Fund’s Board of Trustees, effective December 31, 2016. The retirements bring the total size of each Fund’s Board of Trustees to five trustees, four of whom are independent.
For additional information, please visit the Funds’ website at www.gsamfunds.com/cef.
Each Fund is a non-diversified, closed-end management investment company managed by GSAM’s Energy & Infrastructure Team, which is among the industry’s largest Master Limited Partnership (“MLP”) investment groups. The Goldman Sachs MLP Income Opportunities Fund began trading on the NYSE on November 25, 2013, and the Goldman Sachs MLP and Energy Renaissance Fund began trading on the NYSE on September 26, 2014.
Each Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Goldman Sachs MLP Income Opportunities Fund invests primarily in MLP investments. The Goldman Sachs MLP and Energy Renaissance Fund invests primarily in MLPs and other energy investments. Each Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The Goldman Sachs MLP and Energy Renaissance 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 $1.15 trillion as of September 30, 2016.1 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.
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 a 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. Each Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in a Fund. An investment in a Fund is not appropriate for all investors, and each Fund is not intended to be a complete investment program. Investors should carefully review and consider a Fund’s investment objective, risks, charges and expenses before investing. Fees and expenses are applicable to an investment in the Funds.
For additional information, please visit the Funds’ website at www.GSAMFUNDS.com/cef.
Compliance Code: 77290-OTU
Date of First Use: December 16, 2016