The Goldman Sachs MLP and Energy Renaissance Fund (NYSE: GER) has announced a quarterly distribution of $0.155 per common share. The distribution will be payable on November 30, 2020, with an ex-date of November 20 and a record date of November 23. A portion of this distribution is expected to be treated as a return of capital for tax purposes, with final tax characterization determined in early 2021. The Fund primarily invests in master limited partnerships and focuses on the energy sector.
Goldman Sachs Asset Management announced the successful reorganization of the Goldman Sachs MLP Income Opportunities Fund (GMZ) with the Goldman Sachs MLP and Energy Renaissance Fund (GER) on September 28, 2020. Shareholders of GMZ received newly issued shares of GER equal to the NAV of their GMZ holdings. Approximately 8.36 million new shares of GER were issued, raising the total outstanding shares to about 17.22 million. The total assets of GER are approximately $139.79 million, with an NAV per share of $8.12. This transaction was tax-free for shareholders.