Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at April 30, 2021

Rhea-AI Summary

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) reported unaudited assets and liabilities as of April 30, 2021. The Fund's net assets totaled $396 million with a net asset value per share of $8.39. The asset coverage ratio for senior securities was 453%, and 381% for total leverage. Long-term investments were primarily in midstream companies (35%), renewable infrastructure (22%), and utilities (22%). The Fund had 47,197,462 shares outstanding.

Positive

• Net assets of $396 million indicate strong financial health.
• Net asset value per share stands at $8.39, showing potential for shareholder value.
• High asset coverage ratios (453% for senior securities and 381% for total leverage) suggest robust capital structure and low financial risk.
• Majority stake (99%) in equity investments reflects a strategic focus on growth-oriented sectors.

Negative

• None.

HOUSTON, May 03, 2021 (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 April 30, 2021.

As of April 30, 2021, the Fund’s net assets were $396 million and its net asset value per share was $8.39. As of April 30, 2021, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 453% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 381%.

Kayne Anderson NextGen Energy & Infrastructure, Inc.
Statement of Assets and Liabilities
April 30, 2021
(Unaudited)
		(in millions)
Investments		$	534.6
Cash and cash equivalents			2.2
Receivable for securities sold			0.1
Accrued income			1.8
Other assets			1.6
Total assets			540.3
Credit facility			34.0
Notes			84.5
Unamortized notes issuance costs			(0.3	)
Preferred stock			22.2
Unamortized preferred stock issuance costs			(0.2	)
Total leverage			140.2
Payable for securities purchased			2.6
Other liabilities			1.7
Total liabilities			4.3
Net assets		$	395.8

The Fund had 47,197,462 common shares outstanding as of April 30, 2021.

As of April 30, 2021, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $535 million. Long-term investments were comprised of Midstream Company (35%), Renewable Infrastructure Company (22%), Utility Company (22%), Natural Gas & LNG Infrastructure (18%), Other Energy (1%), Other (1%) and Debt (1%).

The Fund’s ten largest holdings by issuer at April 30, 2021 were:      

			Amount (in millions)			Percent of Long-Term Investments*
1.	Enterprise Products Partners L.P. (Midstream Company)		$36.0			6.7	%
2.	Targa Resources Corp. (Midstream Company)			35.6		6.7	%
3.	The Williams Companies, Inc. (Natural Gas & LNG Infrastructure)			31.6		5.9	%
4.	TC Energy Corporation (Natural Gas & LNG Infrastructure)			24.7		4.6	%
5.	Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company)			24.6		4.6	%
6.	MPLX LP (Midstream Company)			24.0		4.5	%
7.	Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company)			19.2		3.6	%
8.	NextEra Energy Partners, LP (Renewable Infrastructure Company)			18.2		3.4	%
9.	Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure)			17.2		3.2	%
10.	Kinder Morgan, Inc. (Natural Gas & LNG Infrastructure)			14.6		2.7	%

___________________________
* Excludes cash.
** 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

FAQ

What are the net assets of Kayne Anderson NextGen Energy & Infrastructure (KMF) as of April 30, 2021?

As of April 30, 2021, the net assets of Kayne Anderson NextGen Energy & Infrastructure (KMF) were $396 million.

What is the net asset value per share for KMF?

The net asset value per share for Kayne Anderson NextGen Energy & Infrastructure (KMF) is $8.39.

What are the asset coverage ratios for KMF?

As of April 30, 2021, the asset coverage ratio for senior securities was 453%, and for total leverage, it was 381%.

How many shares are outstanding for KMF?

Kayne Anderson NextGen Energy & Infrastructure (KMF) had 47,197,462 common shares outstanding as of April 30, 2021.

What is the investment strategy of KMF?

Kayne Anderson NextGen Energy & Infrastructure (KMF) aims to invest at least 80% of its assets in securities of Energy Companies and Infrastructure Companies, focusing on those benefiting from the Energy Transition.