– Breakwall Capital LP (“Breakwall”), an independent asset management firm specializing in the energy industry, announced the initial close of its flagship fund, Breakwall Energy Credit Partners Fund, L.P. (“BEC I”), at $125 million.
– BEC I is a private credit fund focused on senior secured first lien direct lending within energy infrastructure, infrastructure services, and energy transition subsectors.
– Breakwall’s financing aims to fill gaps left by traditional financing markets and generalist direct lenders by providing asset-based loans designed to support growth while promoting a sustainable, affordable, and reliable energy economy.
– Managing Partners Christopher Abbate, Jamie Brodsky, and Daniel Flannery highlighted the fund’s first close as a reflection of long-term relationships, support for middle-market and developing-energy companies, and investor confidence.
– Breakwall Capital was formed in January 2024 when the Managing Partners and co-founders of Riverstone Credit Partners spun out to create an employee-owned independent asset manager.
– The team assumed sub-advisory responsibilities for legacy Riverstone credit vehicles and established Valor Upstream Credit Partners with Vitol as a partner.
– Breakwall has since launched BEC I and is pursuing platform expansion through its partnership with Vitol, including the launch of Valor Mining Credit Partners.
– Since formation, Breakwall has executed over $1.4 billion in new deal activity and realized more than $725 million from legacy Riverstone credit vehicles.
– The BEC I first close is anchored by commitments from new and existing institutional investors, including New Mexico ERB.
– The fund’s portfolio already includes a Green Loan to Silfab Solar (November 2024) and a First Lien Sustainability-Linked Loan to Alliance Energy Services (April 2025).
– Initial funding for these deals came from a $250 million warehouse facility provided by a top-tier asset manager & advisory firm, along with strategic co-investment.
– A portion of each deal will be purchased by BEC I after close, subject to fund concentration limits.
– Breakwall Capital has grown from five to 12 professionals across New York, Texas, and Rhode Island offices.
– The team is targeting more than $650 million of actionable direct lending opportunities and expects to complete the $500 million BEC I fundraise in 2026.
