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HOUSTON, Dec. 02, 2022 (GLOBE NEWSWIRE) — Kaine Anderson NextGen Energy & Infrastructure, Inc. (“Fund&CloseCurliDoubleQuote;”) (NISE: KMF) today filed a consolidated unaudited statement of assets and liabilities and disclosed its net asset value Asset Coverage Ratios under the Investment Company Act of 1940 (“Act of 1940&CloseCurliDoubleQuote;) as of November 30 in 2022
As of November 30, 2022, Fund&CloseCurliQuote’s net assets were $463.6 million, and its net asset value per share was $9.82. As of November 30, 2022, the Fund&CloseCurliQuota’s asset coverage ratio under the 1940 Act to senior debt securities was 731%, and the Fund&CloseCurliQuota’s asset coverage ratio under the Total Leverage Act of 1940 ) was 481% .
Kaine Anderson NextGen Energy & Infrastructure, Inc. | ||||
Statement of assets and liabilities | ||||
November 30, 2022 | ||||
(unaudited) | ||||
(in millions) | ||||
Investments | $ | 576.3 | ||
Cash and cash equivalents | 6.3 | |||
Receivable for securities sold | 2.4 | |||
Calculated income | 1.3 | |||
Other means | 0.6 | |||
total assets | 586.9 | |||
Notes | 80.1 | |||
Costs of issuing unamortized notes | (0.1 | ) | ||
Preference shares | 41.5 | |||
Unamortized costs of issuing preferred shares | (0.5 | ) | ||
Total leverage | 121.0 | |||
Other obligations | 2.3 | |||
Net assets | $ | 463.6 | ||
As of November 30, 2022, the fund had 47,197,462 ordinary shares.
As of November 30, 2022, equity and debt investments were 99% and 1%, respectively, of the long-term investments of the Fund&CloseCurliQuote. Long-term investments consisted of Midstream Companies (39%), Natural Gas and LNG Infrastructure Companies (27%), Renewable Infrastructure Companies (17%), Utilities (16%) and Debt (1%).
The ten largest holdings of the Fund&CloseCurliQuota by issuer as of November 30, 2022 are:
Amount (in millions)* |
Percentage of Long term Investments |
||||||
1. | Enterprise Products Partners LP (Midstream Company) | $43.0 | 7.5 | % | |||
2. | Targa Resources Corp. (Midstream Company) | 42.5 | 7.4 | % | |||
3. | Cheniere Energy, Inc. (Natural Gas and LNG Infrastructure Company) | 40.4 | 7.0 | % | |||
4. | The Williams Companies, Inc. (Natural Gas and LNG Infrastructure Company) | 37.3 | 6.5 | % | |||
5. | Energi Transfer LP (Midstream Company) | 33.2 | 5.8 | % | |||
6. | Plains GP Holdings, LP ** (Midstream Company) | 30.4 | 5.3 | % | |||
7. | MPLX LP (Midstream Company) | 27.7 | 4.8 | % | |||
8. | DT Midstream, Inc. (Natural Gas and LNG Infrastructure Company) | 24.2 | 4.2 | % | |||
9. | NextEra Energy Partners, LP (Renewable Infrastructure Company) | 22.1 | 3.8 | % | |||
10. | TC Energi Corporation (natural gas and LNG infrastructure company) | 20.6 | 3.6 | % |
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* | It includes equity ownership and debt investments. |
** | Includes ownership of Plains GP Holdings, LP (“PAGP&CloseCurliDoubleQuote;) and Plains AAP, LP (“PAGP-AAP&CloseCurliDoubleQuote;). |
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Portfolio ownership is subject to change without notice. Mention of particular securities is not a recommendation or invitation to any person to buy, sell or hold any particular security. You can get a complete list of funds by viewing the latest quarterly or annual report of the Fund&CloseCurliQuote.
Kaine Anderson NextGen Energy & Infrastructure, Inc. (NISE: KMF) is a non-diversified closed-end investment company registered under the Investment Company Act of 1940, as amended, whose common shares are traded on the NISE. The Fund’s investment objective is to provide a high level of total return with an emphasis on cash distribution to its shareholders. The fund seeks to achieve its investment objective by investing at least 80% of its total assets in the securities of energy and infrastructure companies. The Fund anticipates that the majority of its investments will consist of investments in &CloseCurliDoubleQuote;NektGen&CloseCurliDoubleQuote; companies, which we define as energy companies and infrastructure companies that significantly participate in the energy transition or benefit from it. See the Glossary of Key Terms in the Fund&CloseCurliQuote’s latest quarterly report for a description of these investment categories and the meaning of capitalized terms.
This press release will not constitute an offer to sell or an invitation to buy, nor will there be any sale of any securities in any jurisdiction in which such an offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or to take into account the specific objectives or circumstances of any investor. Please consult your investment, tax or legal advisor regarding your individual circumstances before investing.
WARNING REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements that reflect assumptions, expectations, projections, intentions or beliefs about future events. These and other statements that do not relate strictly to historical or current facts constitute forward-looking statements as defined in the US federal securities laws. Forward-looking statements involve a number 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; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Fund’s and CloseCurliQuote’s filings with the SEC, available at www.kainefunds.com or www.sec.gov. Actual events may differ materially from these statements or from our current expectations or projections. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. Kane Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no guarantee that the investment objectives of the Fund&CloseCurliQuote will be achieved.
Contact: Investor Relations at (877) 657-3863 or cef@kainecapital.com
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