Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at September 30, 2022
October 03 2022 - 7:10PM
Kayne Anderson NextGen Energy & Infrastructure, Inc. (the
“Fund”) (NYSE: KMF) today provided a summary unaudited 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 September 30, 2022.
As of September 30, 2022, the Fund’s net assets were $406.5
million and its net asset value per share was $8.61. As of
September 30, 2022, the Fund’s asset coverage ratio under the 1940
Act with respect to senior securities representing indebtedness was
486% and the Fund’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 358%.
Kayne
Anderson NextGen Energy & Infrastructure, Inc. |
Statement of
Assets and Liabilities |
September
30, 2022 |
(Unaudited) |
|
|
(in millions) |
Investments |
|
$ |
548.1 |
|
Cash and
cash equivalents |
|
|
1.3 |
|
Receivable
for securities sold |
|
|
9.5 |
|
Accrued
income |
|
|
1.1 |
|
Other
assets |
|
|
5.3 |
|
Total assets |
|
|
565.3 |
|
|
|
|
Credit
facility |
|
|
36.0 |
|
Notes |
|
|
80.1 |
|
Unamortized
notes issuance costs |
|
|
(0.1 |
) |
Preferred
stock |
|
|
41.5 |
|
Unamortized
preferred stock issuance costs |
|
|
(0.6 |
) |
Total leverage |
|
|
156.9 |
|
|
|
|
Other
liabilities |
|
|
1.9 |
|
|
|
|
Net
assets |
|
$ |
406.5 |
|
|
|
|
The Fund had 47,197,462 common shares outstanding
as of September 30, 2022.
As of September 30, 2022, equity and debt investments were 99%
and 1%, respectively, of the Fund’s long-term investments.
Long-term investments were comprised of Midstream Company (38%),
Natural Gas & LNG Infrastructure Company (26%), Renewable
Infrastructure Company (19%), Utility Company (16%) and Debt
(1%).
The Fund’s ten largest holdings by issuer at September 30, 2022
were:
|
|
|
Amount(in millions)* |
|
Percent ofLong-TermInvestments |
1. |
Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure
Company) |
|
$42.9 |
|
7.8 |
% |
2. |
Enterprise Products Partners L.P. (Midstream Company) |
|
|
41.9 |
|
7.7 |
% |
3. |
Targa Resources Corp.
(Midstream Company) |
|
|
34.5 |
|
6.3 |
% |
4. |
The Williams Companies, Inc.
(Natural Gas & LNG Infrastructure Company) |
|
|
30.8 |
|
5.6 |
% |
5. |
Energy Transfer LP (Midstream
Company) |
|
|
29.2 |
|
5.3 |
% |
6. |
Plains GP Holdings, L.P. **
(Midstream Company) |
|
|
25.1 |
|
4.6 |
% |
7. |
MPLX LP (Midstream
Company) |
|
|
24.5 |
|
4.5 |
% |
8. |
DT Midstream, Inc. (Natural
Gas & LNG Infrastructure Company) |
|
|
20.8 |
|
3.8 |
% |
9. |
Brookfield Renewable Partners
L.P. *** (Renewable Infrastructure Company) |
|
|
20.5 |
|
3.7 |
% |
10. |
NextEra Energy Partners, LP
(Renewable Infrastructure Company) |
|
|
19.9 |
|
3.6 |
% |
_________________
* |
Includes ownership of equity and
debt investments. |
** |
Includes ownership of Plains GP
Holdings, L.P. (“PAGP”) and Plains AAP, L.P. (“PAGP-AAP”). |
*** |
Includes ownership of Brookfield
Renewable Partners, L.P (“BEP”) and Brookfield Renewable
Corporation (“BEPC”). |
Portfolio holdings are subject to change without notice. The
mention of specific securities is not a recommendation or
solicitation for any person to buy, sell or hold any particular
security. You can obtain a complete listing of holdings by viewing
the Fund’s most recent quarterly or annual report.
Kayne Anderson NextGen Energy & Infrastructure, 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. 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 Companies and Infrastructure Companies
that are meaningfully participating in, or benefitting 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 shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of any securities
in any jurisdiction in which such offer or sale is not permitted.
Nothing contained in this press release is intended to recommend
any investment policy or investment strategy or take into account
the specific objectives or circumstances of any investor. Please
consult with your investment, tax, or legal adviser regarding your
individual circumstances prior to investing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This
communication contains statements reflecting assumptions,
expectations, projections, intentions, or beliefs about future
events. These and other statements not relating strictly to
historical or current facts constitute forward-looking statements
as defined under the U.S. 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 industry
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
could differ materially from these statements or from our present
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
is no assurance that the Fund’s investment objectives will be
attained.
Contact: Investor Relations at (877) 657-3863 or
cef@kaynecapital.com
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