HOUSTON, Sept. 14,
2022 /PRNewswire/ -- Salient Midstream & MLP Fund
(the "Fund") (NYSE: SMM) announced today that the reorganization of
the Fund with and into Salient MLP & Energy Infrastructure Fund
("SMAPX"), a series of Salient MF Trust ("Reorganization"), with
SMAPX being the surviving fund, is effective as of the opening for
business of the New York Stock Exchange ("NYSE") on Wednesday September 14, 2022.
In the Reorganization, shareholders of the Fund received an
amount of SMAPX Class A shares equal to the aggregate net asset
value of their holdings of SMM shares as determined at the close of
business on September 13, 2022.
Relevant details pertaining to the Reorganization include the
Salient Midstream &
Salient MLP &
Energy Infrastructure Fund
This press release is not intended to, and does not constitute,
an offer to purchase or sell shares of the Fund or SMAPX.
Salient Midstream & MLP Fund is a Delaware statutory trust registered as a
non-diversified, closed-end management investment company under the
Investment Company Act of 1940, as amended. The Fund's investment
objective is to provide a high level of total return with an
emphasis on making quarterly cash distributions to its common
shareholders. The Fund seeks to achieve that objective by investing
at least 80% of its total assets in securities of MLPs and
midstream companies. There can be no assurance that the Fund will
achieve its investment objective.
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 future results to differ
significantly from the Fund's 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; leverage risk; valuation
risk; interest rate risk; tax risk; the volume of sales and
purchase of shares; the continuation of investment advisory,
administration and other service arrangements; and other risks
discussed in the Fund's filings with the Securities and Exchange
Commission. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Fund
undertakes no obligation to publicly update or revise any
forward-looking statements made herein. There is no assurance that
the Fund's investment objective will be attained.
Salient Partners, L.P. ("Salient") is a real asset and
alternative investment firm that offers a suite of strategies
focused on energy and infrastructure, real estate and tactical
alternative investments. Institutions and investment advisors turn
to Salient to build smarter, more efficient portfolios. Strategies
are offered in the form of open- and closed-end funds and
separately managed accounts. Salient was founded in 2002 and has
offices in Houston and
San Francisco. Learn more about
Salient at www.salientpartners.com.
The Salient MLP & Energy Infrastructure Fund ("SMAPX") seeks
to maximize total return (capital appreciation and income). SMAPX
seeks to achieve its investment objective by investing in at least
80% of its net assets in securities of MLPs and energy
infrastructure companies. Investing involves risk including the
potential loss of principal. SMAPX may engage in other investment
practices that may involve additional risks and you should review
the Fund prospectus for a complete description.
You should consider the investment objectives, risks, charges
and expenses of the Funds carefully before investing. The
prospectus and summary prospectus for SMAPX contain this and other
information about SMAPX and are available by calling 866-667-9228.
They should be read carefully before investing.
Advisory services offered by Salient Capital Advisors, LLC (the
"advisor"). A wholly owned subsidiary of Salient Partners, L.P.
Salient is the trade name for Salient Partners, L.P., which
together with its subsidiaries provides asset management and
advisory services. Salient MLP & Energy Infrastructure Fund is
distributed by Foreside Fund Services, LLC.
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SOURCE Salient Partners, L.P.