NEW YORK--(BUSINESS WIRE)--Goldman Sachs Asset Management, L.P. (“GSAM”), advisor for the Goldman Sachs MLP Income Opportunities Fund (GMZ) and Goldman Sachs MLP and Energy Renaissance Fund (GER) (together, the “Funds”) announced today the appointment of Caroline Dorsa to each Fund’s Board of Trustees. The appointment of Ms. Dorsa brings the total size of the Board of Trustees to eight, seven of whom are independent.
Caroline Dorsa
Ms. Dorsa is retired. Ms. Dorsa is a member of the Board of Directors of Biogen Inc., a biotechnology company, where she chairs the Audit Committee and also serves on the Risk Committee and Compensation Committee. In addition, Ms. Dorsa also serves as a member of the Board of Directors of Intellia Therapeutics Inc., a gene-editing company, where she chairs the Audit Committee and serves on the Compensation Committee. Furthermore, Ms. Dorsa serves as a member of the Board of Directors of Joule Unlimited, an alternative energy technology company, where she chairs the Audit Committee. Previously, she served as Executive Vice President and Chief Financial Officer of Public Service Enterprise Group, Inc. (“PSEG”), a generation and energy services company. As Executive Vice President and Chief Financial Officer, Ms. Dorsa was responsible for finance, accounting and internal audit, risk management and investor relations. Prior to becoming Chief Financial Officer, she was a member of PSEG’s Board of Directors and a member of its Audit, Corporate Governance and Finance committees for six years. Prior to joining PSEG, Ms. Dorsa held various management positions at Merck & Co, Inc., where she worked for over 20 years, most recently in the position of Senior Vice President of Global Human Health Strategy and Integration. As Vice President and Treasurer of Merck from 1994 through 2006, her responsibilities also included the global tax function, transfer pricing, global entity management and financial planning for both the research and manufacturing divisions. Based on the foregoing, Ms. Dorsa is experienced with financial and investment matters. In addition, Ms. Dorsa has been appointed to serve on the Board of Trustees of the Goldman Sachs ETF Trust.
For additional information, please visit the Funds’ website at www.gsamfunds.com/cef.
The Funds
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 $1.12 trillion as of June 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.
Disclosures
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.
For additional information, please visit the Funds’ website at
www.GSAMFUNDS.com/cef.
Compliance Code: 65052-OTU
Date of First Use: September 15, 2016