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HOUSTON, June 02, 2022 (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 Company Act of 1940 (the “1940 Act”) as of May 31, 2022.
As of May 31, 2022, the Fund’s net assets were $496.9 million and its net asset value per share was $10.53. As of May 31, 2022, the Fund’s asset coverage ratio under the 1940 Act with respect to senior debt securities was 527% and the Fund’s asset coverage ratio under the 1940 Act for total leverage (debt and preferred stock) was 396%.
|Kayne Anderson NextGen Energy & Infrastructure, Inc.|
|Statement of assets and liabilities|
|May 31, 2022|
|Cash and cash equivalents||1.2|
|Receivables on forward exchange contracts||1.9|
|Products to receive||1.5|
|Unamortized note issue costs||(0.2||)|
|Unamortized preferred share issue costs||(0.6||)|
|Payable for titles purchased||0.3|
The Fund had 47,197,462 common shares outstanding as of May 31, 2022.
As of May 31, 2022, equity and debt investments represented 99% and 1% of the Fund’s long-term investments, respectively. Long-term investments included Midstream Company (37%), Natural Gas & LNG Infrastructure Company (24%), Utility Company (17%), Renewable Infrastructure Company (17%), Other Energy (4%) and Debt (1% ).
The Fund’s top ten holdings by issuer as of May 31, 2022 were:
|Amount (in millions)*||Percentage of long-term investments|
|1.||Targa Resources Corp. (Intermediate company)||$||45.3||6.9||%|
|2.||Enterprise Products Partners LP (Intermediate company)||44.2||6.7||%|
|3.||The Williams Companies, Inc. (natural gas and LNG infrastructure company)||41.0||6.2||%|
|4.||Cheniere Energy, Inc. (natural gas and LNG infrastructure company)||35.4||5.4||%|
|5.||Energy Transfer LP (Intermediate company)||30.9||4.7||%|
|6.||MPLX LP (Intermediate Company)||29.3||4.4||%|
|seven.||TC Energy Corporation (natural gas and LNG infrastructure company)||27.4||4.1||%|
|8.||DT Midstream, Inc. (Natural Gas and LNG Infrastructure Company)||23.3||3.5||%|
|9.||Brookfield Renewable Partners LP** (Renewable infrastructure company)||23.1||3.5||%|
|ten.||Kinder Morgan, Inc. (natural gas and LNG infrastructure company)||22.8||3.4||%|
|*||Includes ownership of equity and debt securities investments.|
|**||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 does not constitute a recommendation or solicitation for anyone to buy, sell or hold any particular security. You can obtain a complete list of holdings by consulting the Fund’s most recent quarterly or annual report.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is a non-diversified, privately held investment company registered under the Investment Company Act of 1940, as amended, whose common stock trades on the NYSE . The Fund’s investment objective is to provide a 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 companies and infrastructure companies. The Fund anticipates that the majority of its investments will consist of investments in “NextGen” companies, which we define as energy 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 capitalized terms.
This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of securities in any jurisdiction in which such offer or sale is not authorized. Nothing in this press release is intended to recommend any investment policy or strategy or to take into account any investor’s specific objectives or circumstances. Please consult your investment, tax or legal adviser regarding your personal circumstances before investing.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions or beliefs regarding future events. These and other statements that do not relate strictly to historical or current facts constitute forward-looking statements as defined by 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 developments; energy sector 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 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 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.
Contact: Investor Relations at (877) 657-3863 or [email protected]
Source: Kayne Anderson NextGen Energy & Infrastructure, Inc.