Kayne Anderson Closed-End Funds Announce Appointment of New CEO
June 27 2019 - 4:40PM
KA Fund Advisors, LLC (“Kayne Anderson”), which serves as the
adviser to Kayne Anderson MLP/Midstream Investment Company (NYSE:
KYN) and Kayne Anderson Midstream/Energy Fund (NYSE: KMF),
announced today that the Board of Directors of each of KYN and KMF
has appointed Jim Baker as CEO of each entity. This appointment was
part of a succession plan announced earlier this year. Kevin
McCarthy will continue to serve as Chairman of the Board of
Directors of each of KYN and KMF and as Vice Chairman of Kayne
Anderson Capital Advisors, L.P.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) is a
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940, as amended,
whose common stock is traded on the NYSE. The Company's investment
objective is to obtain a high after-tax total return by investing
at least 85% of its total assets in energy-related partnerships and
their affiliates (“MLPs”), and in other companies that, as their
principal business, operate assets used in the gathering,
transporting, processing, storing, refining, distributing, mining
or marketing of natural gas, natural gas liquids, crude oil,
refined petroleum products or coal (collectively with midstream
MLPs, “Midstream Energy Companies”).
Kayne Anderson Midstream/Energy Fund, Inc. (NYSE: KMF) is a
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940, as amended,
whose common stock is traded on the NYSE. The Fund’s investment
objective is to provide a high level of total return with an
emphasis on making cash distributions to its stockholders by
investing at least 80% of its total assets in securities of
companies in the Midstream/Energy Sector, consisting of: (a)
Midstream Master Limited Partnerships (“MLPs”), (b) Midstream
Companies, (c) Other MLPs and (d) Other Energy Companies. The Fund
anticipates that the majority of its investments will consist of
investments in Midstream MLPs and Midstream Companies. See Glossary
of Key Terms in the Fund’s quarterly reports for a description of
these investment categories and for the meaning of capitalized
terms.
KA Fund Advisors, LLC (“KAFA”) is the adviser to KYN and KMF.
Kayne Anderson Capital Advisors, L.P. (“KACALP”) is a leading
alternative investment management firm focused on niche investing
in upstream oil and gas companies, energy and infrastructure,
specialized real estate, growth equity and both private credit and
diversified liquid credit. Together, KAFA and KACALP are referred
to in this communication as “Kayne Anderson.” Kayne
Anderson’s investment philosophy is to pursue niches, with an
emphasis on cash flow, where our knowledge and sourcing advantages
enable us to deliver above average, risk-adjusted investment
returns. Kayne Anderson manages approximately $30 billion in assets
(as of 5/31/2019) for institutional investors, family offices, high
net worth and retail clients and employs 350+ professionals in five
core offices across the U.S. For additional information, please
call 877.657.3863 or email cef@kaynecapital.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as
defined under the U.S. federal securities laws. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will" and similar expressions identify forward-looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ from the
Company’s historical experience and its present expectations or
projections indicated in any forward-looking statements. These
risks include, but are not limited to, changes in economic and
political conditions; regulatory and legal changes; MLP industry
risk; leverage risk; valuation risk; interest rate risk; tax risk;
and other risks discussed in the Company’s filings with the SEC.
You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements made herein. There is no assurance that
the Company’s investment objectives will be attained.
Contact: KA Fund Advisors, LLC Investor Relations 877-657-3863
cef@kaynecapital.com www.kaynefunds.com
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