Latham & Watkins Advises Breakwall Capital on Formation of Second Upstream Credit Fund

Breakwall Capital LP (Breakwall), an independent asset management firm specializing in energy-related credit investments, and Vitol, a leader in energy and commodities, announced the closing of Valor Upstream Credit Partners II, L.P. (VCP II). VCP II pursues a strategy seeking to make structured credit investments in North American upstream oil and gas companies. The fund primarily targets event-driven financing opportunities, including debt refinancing, acquisition financing, and development capital, providing companies with flexible capital solutions to accelerate growth and enhance shareholder value.

Latham & Watkins LLP represented Breakwall in the fund formation with an Investment Funds team led by Washington, D.C. partner Amy Rigdon, New York partner Mark Proctor, and Chicago counsel Ali Beidoun, with associates Christina Smith and Chandler Johnson. Advice was also provided on funds regulatory matters by Washington, D.C. partner Aaron Gilbride, with associate Katherine Ryan; and on tax matters by Michael Milazzo, with associates Nicholas Sun and Nolon Blaylock.