Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at January 31, 2023

Rhea-AI Summary

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) reported its net asset value (NAV) and asset coverage ratios as of January 31, 2023. The Fund's net assets stood at $441.7 million, with a NAV per share of $9.36. The asset coverage ratio for senior securities representing indebtedness was 642%, while total leverage coverage was 438%. The Fund's long-term investments comprised 99% equity and 1% debt, with notable allocations in midstream companies (41%) and natural gas infrastructure (25%). The top holdings included The Williams Companies and Enterprise Products Partners, among others.

Positive

• Net assets of $441.7 million indicate financial stability.
• NAV per share at $9.36 suggests potential growth for investors.
• Strong asset coverage ratios: 642% for senior securities and 438% for total leverage.

Negative

• None.

HOUSTON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- 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 January 31, 2023.

As of January 31, 2023, the Fund’s net assets were $441.7 million and its net asset value per share was $9.36. As of January 31, 2023, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 642% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 438%.

Kayne Anderson NextGen Energy & Infrastructure, Inc.
Statement of Assets and Liabilities
January 31, 2023
(Unaudited)
		(in millions)
Investments		$	570.3
Cash and cash equivalents			1.7
Receivable for securities sold			2.5
Accrued income			1.9
Other assets			0.5
Total assets			576.9
Credit facility			9.0
Notes			80.1
Unamortized notes issuance costs			(0.1	)
Preferred stock			41.5
Unamortized preferred stock issuance costs			(0.5	)
Total leverage			130.0
Payable for securities purchased			2.5
Other liabilities			2.7
Total liabilities			5.2
Net assets		$	441.7

The Fund had 47,197,462 common shares outstanding as of January 31, 2023.

As of January 31, 2023, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments. Long-term investments were comprised of Midstream Company (41%), Natural Gas & LNG Infrastructure Company (25%), Renewable Infrastructure Company (18%), Utility Company (15%) and Debt (1%).

The Fund’s ten largest holdings by issuer at January 31, 2023 were:      

			Amount (in millions)*			Percent of Long-Term Investments
1.	The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company)		$47.0			8.2	%
2	Enterprise Products Partners L.P. (Midstream Company)			46.5		8.2	%
3.	Energy Transfer LP (Midstream Company)			37.1		6.5	%
4.	Targa Resources Corp. (Midstream Company)			35.7		6.3	%
5.	Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company)			35.2		6.2	%
6.	Plains GP Holdings, L.P. ** (Midstream Company)			32.3		5.7	%
7.	MPLX LP (Midstream Company)			28.5		5.0	%
8.	NextEra Energy Partners, LP (Renewable Infrastructure Company)			22.6		4.0	%
9.	Sempra Energy (Utility Company)			21.0		3.7	%
10.	Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company)			20.1		3.5	%

_________________

*	Includes ownership of equity and debt investments.
**	Includes ownership of Plains GP Holdings, L.P. (“PAGP”), Plains All American Pipeline, L.P. (“PAA”) and Plains AAP, L.P. (“PAGP-AAP”).

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

FAQ

What is the net asset value of Kayne Anderson NextGen Energy & Infrastructure (KMF) as of January 31, 2023?

The net asset value of Kayne Anderson NextGen Energy & Infrastructure (KMF) as of January 31, 2023, is $9.36 per share.

What are the asset coverage ratios for KMF under the Investment Company Act?

As of January 31, 2023, the asset coverage ratio for KMF with respect to senior securities is 642%, and for total leverage, it is 438%.

What were KMF's total net assets reported recently?

KMF reported total net assets of $441.7 million as of January 31, 2023.

Which sectors does KMF invest in?

KMF primarily invests in the energy and infrastructure sectors, with significant allocations to midstream companies and natural gas infrastructure.

What percentage of KMF's investments are in equity vs. debt?

As of January 31, 2023, KMF's long-term investments are comprised of 99% equity and 1% debt.