HOUSTON, July 01, 2022 (GLOBE NEWSWIRE) — Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) (NYSE: KMF) today filed a summary unaudited statement of assets and liabilities and disclosed its net asset value and net worth known coverage ratios under the Investment Company Act, 1940 (the “1940 Act”) as at 30 June 2022.
As of June 30, 2022, the Fund had net assets of $433.1 million and a net asset value per share of $9.18. As of 30 June 2022, the Fund’s asset coverage ratio under the 1940 Act in relation to senior securities constituting debt was 459% and the Fund’s asset coverage ratio under the 1940 Act in relation to total debt (debt and preferred stock) was 349%. .
|Kayne Anderson NextGen Energy & Infrastructure, Inc.|
|Statement of Assets and Liabilities|
|June 30, 2022|
|Cash and cash equivalents||1.4|
|Unamortized cost of debt issuance||(0.2||)|
|Unamortized issuance cost of preferred stock||(0.6||)|
The Fund had 47,197,462 common shares outstanding as of June 30, 2022.
As of June 30, 2022, equity and debt investments accounted for 99% and 1% of the fund’s long-term investments, respectively. Long-term investments consisted of Midstream Company (37%), Natural Gas & LNG Infrastructure Company (23%), Renewable Infrastructure Company (18%), Utility Company (18%), Other Energy (3%) and Debt (1%).
The fund’s top ten holdings by issuer as of June 30, 2022 were:
|1.||Enterprise Products Partners LP (midstream company)||$41.1||6.9%|
|2.||Targa Resources Corp. (midstream company)||36.6||6.1%|
|3.||Cheniere Energy, Inc. (natural gas and LNG infrastructure company)||34.4||5.8%|
|4.||The Williams Companies, Inc. (natural gas and LNG infrastructure company)||33.6||5.6%|
|5.||Energy Transfer LP (midstream company)||26.5||4.4%|
|6.||MPLX LP (midstream company)||26.0||4.4%|
|7.||TC Energy Corporation (natural gas and LNG infrastructure company)||23.6||3.9%|
|8th.||Brookfield Renewable Partners LP ** (renewable infrastructure company)||22.7||3.8%|
|9.||DT Midstream, Inc. (natural gas and LNG infrastructure company)||19.7||3.3%|
|10||Kinder Morgan, Inc. (natural gas and LNG infrastructure company)||19.4||3.3%|
|*||Includes ownership of equity and debt investments.|
|**||Includes ownership of Brookfield Renewable Partners, LP (“BEP”) and Brookfield Renewable Corporation (“BEPC”).|
Portfolio holdings are subject to change without notice. The mention of any particular security is not a recommendation or solicitation by any person to buy, sell or hold any particular security. You can get a full list of holdings by looking at the fund’s most recent quarterly or annual report.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is a closed-end, undiversified investment company incorporated under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Fund’s investment objective is to achieve high 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 and infrastructure companies. The Fund anticipates that the majority of its investments will be made up of investments in “NextGen” companies, which we define as energy and infrastructure companies that are contributing significantly to or benefiting from the energy transition. For a description of these asset classes and the meaning of the capitalized terms, see the Glossary of Key Terms in the Fund’s most recent quarterly report.
This press release does not constitute an offer to sell or a solicitation to buy, nor may any sale of any securities be made in any jurisdiction in which such an offer or sale is not permitted. Nothing in this press release is intended to recommend any investment policy or strategy or to take into account an investor’s specific objectives or circumstances. Before investing, please consult your investment, tax or legal adviser as to your individual circumstances.
CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS: This release contains statements that reflect assumptions, expectations, projections, intentions or beliefs about future events. These and other statements, which are not purely historical or current facts, are forward-looking statements within the meaning of the 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 risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Fund’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events may differ materially from these statements or our current expectations or forecasts. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There can be no assurance that the Fund’s investment objectives will be achieved.