Breakwall Capital LP Completes First Close of Its Inaugural Flagship Fund, Breakwall Energy Credit Partners Fund, L.P.
Oct 27, 2025 8:00 AM Eastern Daylight Time
Initial Close of $125 Million to Make Senior Secured First Lien Direct Credit Investments Facilitating the Growth and Improvement of Conventional, Renewable and Next-Generation Energy Companies
NEW YORK--(
BUSINESS WIRE)--Breakwall Capital LP (“Breakwall”), an independent asset management firm specializing in the energy industry, announced today 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 investments within the energy infrastructure, infrastructure services, and energy transition subsectors. Breakwall’s financing efforts are expected to fill a void left by traditional financing markets and other generalist-direct lenders, by offering an asset-based loan product that is purpose-built to support growth while promoting a more sustainable, affordable, and reliable energy economy.
“The formation of Breakwall and the first close of BEC I reflect the strength of our relationship, solidified over the last two decades, and the foundation we have built to support middle-market and developing-energy companies while driving returns for our investors. It is also a testament to the conviction of both longstanding investors and new LPs partnering with us on our inaugural fund,” said Christopher Abbate, Jamie Brodsky, and Daniel Flannery, Managing Partners of Breakwall. “Our vision is to build an employee-owned credit investment platform that is the lender of choice for borrowers innovating and driving the energy future. This close marks a significant step toward achieving this vision. We are grateful for our team and investors; with their trust and support, we will continue to address the significant demand for capital and investment opportunity presented by an evolving energy ecosystem and play a meaningful role in responsibly financing future energy needs.”
Breakwall Capital was formed in January 2024 when the Managing Partners and co-founders of Riverstone Credit Partners spun out to form an employee-owned independent asset manager. The team assumed sub-advisory responsibilities for legacy Riverstone credit vehicles they previously managed and established a private credit strategy, Valor Upstream Credit Partners, with Vitol, one of the largest energy trading companies globally, as its partner. The team has since launched BEC I and is pursuing platform expansion through its strategic partnership with Vitol, including launching Valor Mining Credit Partners. These efforts create building blocks for a diversified credit investment firm with enhanced capabilities to source, structure, and scale investment opportunities across natural resource and energy value chains.
Since its formation, Breakwall has executed more than $1.4 billion of new deal activity across its managed vehicles, underscoring its origination capabilities, depth of relationships, and opportunity set. Performance across the legacy Riverstone credit vehicles remains solid, having realized over $725 million since spinout. This deal activity, coupled with strong capital realizations, underscores the team’s ability to execute its investment thesis while profitably returning capital to investors.
The BEC I first close is anchored by commitments from new and existing institutional investors, including New Mexico ERB. The portfolio already includes two investments: a Green Loan to Silfab Solar, made in November 2024, and a First Lien Sustainability-Linked Loan to Alliance Energy Services, made in April 2025. These deals were initially funded using a $250 million warehouse facility provided by a top-tier asset manager & advisory firm, along with strategic co-investment, providing BEC I scalable funding ahead of the initial closing of BEC I and related LP capital calls. A portion of each deal will be purchased by BEC I shortly after close, subject to fund concentration limits.
Starting with five people, Breakwall Capital now has 12 professionals across offices in New York, Texas, and Rhode Island. With an evolving pipeline, the team is targeting more than $650 million of actionable direct lending opportunities, Breakwall expects to close additional investments in the coming quarters, seeking to complete the $500 million fundraise of BEC I in 2026.
Latham & Watkins served as legal counsel to Breakwall Capital.
About Breakwall Capital
Breakwall Capital is a leading energy specialist focused on direct lending capital solutions to middle-market and developing-energy companies. As an independent asset manager and employee-owned firm, Breakwall seeks to fill the gap that other financing providers appear reluctant to service. Breakwall is led by Christopher Abbate, Jamie Brodsky, and Daniel Flannery and since 2014, the Breakwall team has built a credit investment franchise that focuses exclusively on energy credit. During its 11-year history, the team has committed over $6 billion to energy and energy-related companies or projects across more than 60 transactions. Breakwall is headquartered in New York with offices in Texas and Rhode Island. For more information, please visit Breakwall’s website at
www.breakwallcap.com.
The BEC I offering is made under Rule 506(c) of Regulation D and is open only to verified accredited investors. Statements in this release may include forward-looking information subject to risks and uncertainties that could cause actual results to differ materially. Past performance is not indicative of future results. Investment in BEC I or other Breakwall managed funds, accounts and entities involves risks, including possible loss of principal. Prospective investors should carefully review all offering materials and consult their advisors. This press release is for informational purposes only and does not constitute an offer or solicitation to buy securities.
Contacts
Val Mack/Kyla MacLennan
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