NEW YORK--(BUSINESS WIRE)--Goldman Sachs Asset Management, investment adviser for the Goldman Sachs MLP Income Opportunities Fund and Goldman Sachs MLP and Energy Renaissance Fund, announced today that the reorganization of GMZ with and into GER was completed prior to the open of trading on the New York Stock Exchange on September 28, 2020.

When the New York Stock Exchange opens on Monday, September 28, 2020, shareholders of GMZ will hold newly issued common shares of GER, the aggregate net asset value (“NAV”) (not the market value) of which will equal the aggregate NAV (not the market value) of the common shares of GMZ held by such shareholders as of the valuation time specified in the Agreement and Plan of Reorganization (although such shareholders will receive cash for fractional common shares). The Reorganization was a tax-free event, and as a result, shareholders of GMZ and GER are not expected to recognize a gain or loss for federal income tax purposes as a result of the Reorganization (except any gain or loss that may result from the receipt of cash in lieu of fractional shares). Detailed information on the Reorganization is contained in the Joint Proxy Statement/Prospectus previously filed with the SEC.

The exchange rate was based on each Fund’s relative NAV per share as of September 25, 2020, as listed below:

GER issued approximately 8,363,886 new common shares in connection with the Reorganization, bringing the total number of its outstanding common shares to approximately 17,221,936. Following the closing of the Reorganization, GER’s total assets and NAV per share were approximately $139,791,208 and $8.12, respectively.

Goldman Sachs MLP and Energy Renaissance Fund The 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 Fund began trading on the NYSE on September 26, 2014.

The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in MLPs and other energy investments. The Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The 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 $1.88 trillion as of June 30, 2020.1 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.