HOUSTON, November 01, 2021 (GLOBE NEWSWIRE) – Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund” (NYSE: KMF) today provided an unaudited summary statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Companies Act of 1940 (the “1940 Act”) as of October 31, 2021.
As at October 31, 2021, the Fund‘s net assets were $ 441 million and its net asset value per share was $ 9.33. As at October 31, 2021, the Fund’s asset coverage ratio under the Senior Debt Securities Act 1940 was 503% and the Fund’s asset coverage ratio under the 1940 law relative to the total leverage (debt and preferred stock) was 374%. .
|Kayne Anderson NextGen Energy & Infrastructure, Inc.|
|Statement of assets and liabilities|
|October 31, 2021|
|Cash and cash equivalents||0.7|
|Receivable on securities sold||0.5|
|Unamortized note issuance costs||(0.2||)|
|Unamortized preferred share issuance costs||(0.7||)|
|Payable for purchased titles||1.6|
The Fund had 47,197,462 common shares outstanding as of October 31, 2021.
As at October 31, 2021, investments in equities and debt securities represented respectively 99% and 1% of the Fund’s long-term investments of $ 599 million. Long-term investments included Midstream Company (34%), Renewable Infrastructure Company (22%), Natural Gas & LNG Infrastructure Company (21%), Utility Company (19%), Other Energy (2%), Other (1% ) and Debt (1%).
The top ten holdings of the Fund by issuer as of October 31, 2021 were:
|1.||Enterprise Products Partners LP (Intermediate Company)||$||36.8||6.1||%|
|2.||Targa Resources Corp. (Intermediate company)||34.4||5.7||%|
|3.||The Williams Companies, Inc. (Natural Gas and LNG Infrastructure Company)||30.9||5.2||%|
|4.||MPLX LP (Intermediate company)||26.8||4.5||%|
|5.||Cheniere Energy, Inc. (Natural gas and LNG infrastructure company)||26.7||4.5||%|
|6.||Energy Transfer LP (Intermediate company)||25.0||4.2||%|
|7.||Brookfield Renewable Partners LP ** (Renewable Infrastructure Company)||24.9||4.2||%|
|8.||TC Energy Corporation (Natural gas and LNG infrastructure company)||23.7||4.0||%|
|9.||NextEra Energy Partners, LP (Renewable Infrastructure Company)||21.1||3.5||%|
|ten.||Kinder Morgan, Inc. (Natural gas and LNG infrastructure company)||19.2||3.2||%|
* Excludes cash.
** Includes ownership of Brookfield Renewable Partners, LP (“BEP”) and Brookfield Renewable Corporation (“BEPC”).
Portfolio holdings are subject to change without notice. Mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete list of holdings by consulting the most recent quarterly or annual report of the Fund.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is an undiversified closed-end investment company registered under the Investment Company Act of 1940, as amended, whose common shares trade on the NYSE . The investment objective of the Fund is to provide a high level of total return with an emphasis on cash distributions to its shareholders. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of energy companies and infrastructure companies. The Fund expects that the majority of its investments will consist of investments in “NextGen” companies, which we define as energy companies and infrastructure companies that significantly participate in or benefit from the energy transition. See Glossary of Key Terms in the Fund’s most recent Quarterly Report for a description of these investment categories and the meaning of the terms in all capital letters.
This press release does not constitute an offer to sell or a solicitation to buy, nor will there be any sale of securities in any jurisdiction in which such an offer or sale is not permitted. Nothing in this press release is intended to recommend an investment policy or investment strategy or to take into account the objectives or specific circumstances of an investor. Please consult your investment, tax or legal adviser about your personal situation before investing.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements that reflect assumptions, expectations, projections, intentions or beliefs about future events. These statements and others that do not relate strictly to historical or current facts constitute forward-looking statements within the meaning of US federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; risk of leverage; valuation risk; interest rate risk; fiscal risk; and other risks discussed in detail in the Fund’s filings with the SEC, available at www.kaynefunds.com Where www.sec.gov. Actual events could differ materially from these statements or from our current expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Kayne Anderson assumes no obligation to publicly update or revise any forward-looking statements contained herein. There can be no assurance that the Fund’s investment objectives will be achieved.