Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at January 31, 2022

Rhea-AI Summary

On February 1, 2022, Kayne Anderson NextGen Energy & Infrastructure announced its financials as of January 31, 2022. The Fund reported net assets of $437.1 million and a net asset value per share of $9.26. The asset coverage ratio for senior securities was 504%, while the total leverage coverage ratio stood at 373%. Long-term investments totaled $595 million, predominantly in equity (99%), with a focus on midstream and natural gas infrastructure. The Fund had 47,197,462 common shares outstanding, with notable holdings in companies like Enterprise Products Partners and Targa Resources.

Positive

• Net assets increased to $437.1 million as of January 31, 2022.
• Net asset value per share reported at $9.26.
• Strong asset coverage ratios: 504% for senior securities and 373% for total leverage.
• Long-term investments reached $595 million, focusing on energy and infrastructure sectors.

Negative

• None.

HOUSTON, Feb. 01, 2022 (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, 2022.

As of January 31, 2022, the Fund’s net assets were $437.1 million and its net asset value per share was $9.26. As of January 31, 2022, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 504% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 373%.

Kayne Anderson NextGen Energy & Infrastructure, Inc.
Statement of Assets and Liabilities
January 31, 2022
(Unaudited)
	(in millions)
Investments	$	595.5
Cash and cash equivalents		1.2
Accrued income		1.7
Other assets		0.6
Total assets		599.0
Credit facility		34.0
Notes		84.5
Unamortized notes issuance costs		(0.2	)
Preferred stock		41.5
Unamortized preferred stock issuance costs		(0.6	)
Total leverage		159.2
Other liabilities		2.7
Net assets	$	437.1

The Fund had 47,197,462 common shares outstanding as of January 31, 2022.

As of January 31, 2022, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $595 million. Long-term investments were comprised of Midstream Company (36%), Natural Gas & LNG Infrastructure Company (22%), Utility Company (20%), Renewable Infrastructure Company (18%), Other Energy (3%) and Debt (1%).

The Fund’s ten largest holdings by issuer at January 31, 2022 were:

		Amount (in millions)		Percent of Long-Term Investments*
1.	Enterprise Products Partners L.P. (Midstream Company)	$37.4		6.3	%
2.	Targa Resources Corp. (Midstream Company)	37.2		6.2	%
3.	The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company)	33.0		5.5	%
4.	MPLX LP (Midstream Company)	29.2		4.9	%
5.	Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company)	28.9		4.9	%
6.	Energy Transfer LP (Midstream Company)	25.2		4.2	%
7.	TC Energy Corporation (Natural Gas & LNG Infrastructure Company)	22.6		3.8	%
8.	Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company)	20.7		3.5	%
9.	Kinder Morgan, Inc. (Natural Gas & LNG Infrastructure Company)	19.8		3.3	%
10.	Plains GP Holdings, L.P. *** (Midstream Company)	18.6		3.1	%

_______________

* Excludes cash.
** Includes ownership of Brookfield Renewable Partners, L.P (“BEP”) and Brookfield Renewable Corporation (“BEPC”).
*** Includes ownership of Plains GP Holdings, L.P. (“PAGP”) 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 per share of KMF as of January 31, 2022?

The net asset value per share of KMF is $9.26 as of January 31, 2022.

What were Kayne Anderson NextGen Energy's net assets as of January 31, 2022?

As of January 31, 2022, the net assets of Kayne Anderson NextGen Energy were $437.1 million.

What are the asset coverage ratios for KMF?

The asset coverage ratio for senior securities is 504%, and for total leverage, it is 373%.

How much did KMF invest in long-term assets?

Kayne Anderson NextGen Energy reported long-term investments totaling $595 million.

How many common shares does KMF have outstanding?

As of January 31, 2022, KMF had 47,197,462 common shares outstanding.