New York Life Investments Announces Name Change for the MainStay CBRE Global Infrastructure Megatrends Fund

NEW YORK, June 20, 2023 /PRNewswire/ -- New York Life Investments today announced a name change for MainStay CBRE Global Infrastructure Megatrends Fund (the "Fund") (NYSE: MEGI) to MainStay CBRE Global Infrastructure Megatrends Term Fund.

This name change is being made to better align the Fund's name with its existing limited term structure, and to increase awareness to the fact that there will be a liquidity event at net asset value for shareholders, either at the Termination Date (as indicated below) or in connection with an Eligible Tender Offer (as discussed below). The name change will be effective on or around June 30, 2023. There are no changes to the Fund's investment policy or strategy in conjunction with the name change.

Ticker	Current Fund Name	New Fund Name	Termination Date1
MEGI	MainStay CBRE Global Infrastructure Megatrends Fund	MainStay CBRE Global Infrastructure Megatrends Term Fund	December 15, 2033

1 Pursuant to the terms of the Declaration of Trust, the Fund will commence the process of liquidation and dissolution at the close of business on December 15, 2033 (the "Termination Date"); provided that if the Board of Trustees of the Fund (the "Board") believes that, under then-current market conditions, it is in the best interests of the Fund to do so, the Termination Date may be extended: (i) once for up to one year and (ii) once for up to an additional six months (in the event of any such extension, the termination date shall be referred to as the "Extended Termination Date"), in each case upon the affirmative vote of a majority of the Board and without the approval of common shareholders. In addition, as of a date within twelve months preceding the Termination Date or the Extended Termination Date, the Board may cause the Fund to conduct a tender offer to all common shareholders to purchase common shares of the Fund at a price equal to the Fund's NAV per common share on the expiration date of the tender offer (an "Eligible Tender Offer"). The Board has established that, following an Eligible Tender Offer, the Fund must have at least $200 million of net assets to ensure the continued viability of the Fund.  Following the completion of an Eligible Tender Offer, the Board may eliminate the limited term structure of the Fund and the Fund may continue as a perpetual closed-end fund, upon the affirmative vote of a majority of the Board and without the approval of common shareholders. If the payment for properly tendered Common shares would result in the Fund's net assets totaling less than $200 million, the Eligible Tender Offer shall be canceled, and the Fund would dissolve as set forth above.

About New York Life Investments
With over $670 billion in Assets Under Management* as of March 31, 2023, New York Life Investments is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.

*Assets under management (AUM) includes assets of the investment advisers affiliated with New York Life Insurance Company, other than Kartesia Management, and Tristan Capital Partners, as of 12/31/2022. As of 12/31/2022 New York Life Investments changed its AUM calculation methodology, and AUM now includes certain assets, such as non-discretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling investment management services, and model portfolio delivery services, that do not qualify as Regulatory Assets Under Management, as defined in the SEC's Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of 12/31/2022. This total AUM figure is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser

"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.

About CBRE Investment Management
CBRE Investment Management Listed Real Assets LLC is the listed real assets arm of CBRE Investment Management, a leading global real assets investment management firm, with $148.9 billion in assets under management* as of March 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world's largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE's data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management's presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

This press release is not an offer to sell securities and is not a solicitation of an offer to buy securities, nor will there be any sales of securities in any jurisdiction where the offer or sale is not permitted.

New York Life Investment Management LLC engages the services of SEC-registered advisors. CBRE Investment Management Listed Real Assets (CBRE Investment Management) is unaffiliated with New York Life Investments. The MainStay Funds^® are managed by New York Life Investment Management LLC and distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

Media Contacts:
New York Life Investments:                                                  
Sara Guenoun
Sara_J_Guenoun@newyorklife.com

CBRE Investment Management
Pam Barnett
pam.barnett@cbreim.com

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SOURCE New York Life Investments