Tortoise Capital Advisors Investment Committee and Closed-End Fund Officers Update
May 19 2015 - 10:00PM
Business Wire
Tortoise Capital Advisors today announced changes to its
Investment Committee and closed-end fund officers, both to become
effective June 30, 2015.
Tortoise will add the following four seasoned portfolio managers
to the Investment Committee for its current products. Brian
Kessens, James Mick, Matthew Sallee and Robert Thummel, all
managing directors of Tortoise, serve in significant roles
alongside the Investment Committee as part of Tortoise’s portfolio
management team, and this will formalize their roles. They will
join current Investment Committee members Kevin Birzer, Zach Hamel,
Terry Matlack and Ken Malvey. The Investment Committee will
continue to provide investment strategy oversight to the portfolio
team, who implements the strategy.
Also effective June 30, 2015, one of Tortoise’s five founding
managing directors, Dave Schulte, will leave Tortoise Capital
Advisors to allow him to focus his efforts on Corridor InfraTrust
Management LLC, which he co-founded in 2011. Mr. Schulte will
retain an ownership interest in Tortoise, but will no longer serve
on the Investment Committee.
Additionally, Tortoise announced the appointment of new officers
for its registered closed-end funds, Tortoise Energy Infrastructure
Corp. (TYG), Tortoise MLP Fund, Inc. (NTG), Tortoise Pipeline &
Energy Fund, Inc. (TTP), Tortoise Power and Energy Infrastructure
Fund, Inc. (TPZ) and Tortoise Energy Independence Fund, Inc.
(NDP).
- Brad Adams, Managing Director at
Tortoise will serve as Chief Executive Officer of each fund.
- Matthew Sallee, Managing Director and
Portfolio Manager at Tortoise will serve as President of TYG and
NTG.
- Brian Kessens, Managing Director and
Portfolio Manager at Tortoise will serve as President of TTP and
TPZ.
- Robert Thummel, Managing Director and
Portfolio Manager at Tortoise will serve as President of NDP.
- Brent Behrens, Director, Financial
Operations at Tortoise will serve as Principal Financial Officer
and Treasurer of each fund.
- Shobana Gopal, Director, Tax at
Tortoise will serve as Vice President of each fund.
- Nick Holmes, Vice President and
Investment Analyst at Tortoise will serve as Vice President of TYG
and NTG.
- Brett Jergens, Director and Investment
Analyst at Tortoise will serve as Vice President of NDP.
- Diane Bono, Director and Chief
Compliance Officer at Tortoise will serve as Secretary of each
fund.
- Cameron Willcott, Compliance Associate
at Tortoise will serve as Assistant Secretary of each fund.
“These changes are part of the natural progression of the
company and align with the expansion of our leadership team,” said
CEO of Tortoise Capital Advisors and Investment Committee member
Kevin Birzer. “We thank Dave for his leadership, inspiration and
significant contributions to Tortoise. We wish him well as he
continues developing the Corridor business,” added Mr. Birzer. “It
was an honor to be part of founding a company that opened up an
asset class for a broader group of investors,” said Dave Schulte.
“I look forward to continuing that tradition with my colleagues at
Corridor.”
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in actively-managed, listed energy investments. As of
April 30, 2015, the adviser had approximately $18.5 billion of
assets under management in NYSE-listed closed-end investment
companies, open-end funds and other accounts spanning the entire
energy value chain. For more information, visit
www.tortoiseadvisors.com.
Forward-Looking Statement
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the funds and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the funds’ reports that are filed with
the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Other than as required by law,
the funds and Tortoise Capital Advisors do not assume a duty to
update this forward-looking statement.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
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version on businesswire.com: http://www.businesswire.com/news/home/20150519007260/en/
Tortoise Capital Advisors, L.L.C.Pam Kearney,
866-362-9331Investor Relationspkearney@tortoiseadvisors.com
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