Welcome to our dedicated page for Kayne Anderson NextGen Energy & Infrastructure news (Ticker: KMF), a resource for investors and traders seeking the latest updates and insights on Kayne Anderson NextGen Energy & Infrastructure stock.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is a non-diversified, closed-end management investment company with a focus on providing a high level of total return to its stockholders. This goal is achieved primarily through investments in Energy Companies and Infrastructure Companies that are significantly involved in or benefiting from the Energy Transition. The fund’s strategy is centered around investing at least 80% of its total assets in these sectors, aiming to generate consistent cash distributions to its common stockholders. KMF is managed by KA Fund Advisors, LLC, a subsidiary of Kayne Anderson Capital Advisors, L.P., a well-regarded investment management firm with a strong track record in the energy sector.
KMF’s recent activities include the quarterly cash distribution of $0.16 per share for the fiscal quarter ended August 31, 2023, payable on October 10, 2023. Moreover, it has announced the completion of stockholder approvals for a proposed merger with Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN). This merger, expected to close on November 13, 2023, will see KMF stockholders receive either newly issued common stock of KYN or cash, enhancing the combined entity’s capacity to capitalize on long-term growth in the energy infrastructure sector.
The fund is also committed to transparency and regulatory compliance, with a clear cautionary note on forward-looking statements that could be influenced by various risk factors including economic conditions, regulatory changes, and industry-specific risks. KMF’s financial health and strategic decisions are regularly disclosed in its filings with the SEC, ensuring that investors are well-informed.
For more detailed information, investment strategies, or to seek personalized advice, KMF encourages investors to consult with their investment, tax, or legal advisers.
On September 2, 2022, Kayne Anderson NextGen Energy & Infrastructure announced its net asset value and asset coverage ratios as of August 31, 2022. The Fund reported net assets of $479.1 million and a net asset value per share of $10.15, with an asset coverage ratio of 500% for senior securities representing indebtedness. The Fund's total assets reached $652.4 million, with long-term investments predominantly in midstream and natural gas infrastructure companies. The portfolio consists of 99% equity and 1% debt investments.
As of July 31, 2022, Kayne Anderson NextGen Energy & Infrastructure reported net assets of $480.3 million, with a net asset value per share of $10.18. The Fund's asset coverage ratio for senior securities was 498%, while the total leverage coverage ratio stood at 378%. The portfolio comprised 99% equity and 1% debt investments, focused mainly on Midstream (37%), Natural Gas & LNG Infrastructure (23%), and Renewable Infrastructure (19%). Key holdings included Enterprise Products Partners L.P. and Targa Resources Corp., reflecting a strategy aligned with the energy transition.
As of June 30, 2022, Kayne Anderson NextGen Energy & Infrastructure reported net assets of $433.1 million and a net asset value per share of $9.18. The Fund's asset coverage ratio for senior securities was 459%, while total leverage stood at 349%. The investment portfolio was primarily composed of 99% equity investments, mainly in Midstream Companies (37%) and Natural Gas & LNG Infrastructure Companies (23%). The Fund holds 47,197,462 common shares outstanding.
Kayne Anderson NextGen Energy & Infrastructure announced a quarterly distribution of $0.16 per share for the fiscal quarter ending May 31, 2022. The distribution is payable on July 12, 2022, with an Ex-Date of July 1, 2022 and a Record Date of July 5, 2022. The estimated return of capital is 95%. Looking forward, the next distribution is anticipated in September 2022, subject to Board approval and debt covenants. The Fund primarily invests in securities of Energy and Infrastructure Companies, focusing on those involved in the Energy Transition.
On June 23, 2022, Kayne Anderson announced the appointment of Carita Walker as an independent director for both Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF). With this addition, each board will consist of eight directors, seven of whom are independent. Walker, the Chief Legal Officer at Shell Recharge Solutions, brings extensive experience in the energy sector, ESG initiatives, and DE&I efforts. This strategic move aims to enhance governance and leverage her industry knowledge for the companies' growth.
Streamline Innovations has successfully raised growth capital through an equity round led by Kayne Anderson Energy Infrastructure Fund (KYN) and Kayne Anderson NextGen Energy & Infrastructure (KMF). Proceeds will expand the lease fleet of its Valkyrie™ hydrogen sulfide treatment plants, enhancing offerings in Renewable Natural Gas and Carbon Capture markets. Additionally, Streamline secured an upsized Term Loan recognized as green financing by Sustainable Fitch, affirming its commitment to environmentally friendly solutions. This funding aims to meet growing demand and reduce delivery times for its technology.
As of May 31, 2022, Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported a net asset value of $496.9 million and $10.53 per share. The Fund's asset coverage ratio was 527% for senior securities and 396% for total leverage. The Fund's investments total $666.6 million, with 99% in equity and 1% in debt. Key holdings include Targa Resources Corp. at $45.3 million, representing 6.9% of long-term investments. The Fund's focus is on energy transition companies, targeting at least 80% of assets in energy and infrastructure.
On May 2, 2022, Kayne Anderson NextGen Energy & Infrastructure reported its net asset value as of April 30, 2022, totaling $468.7 million with a net asset value per share of $9.93. The Fund's asset coverage ratio for senior securities was 475% and 364% for total leverage. Investments primarily comprise 99% equity and 1% debt, focusing on sectors such as midstream and renewable energy. Notably, Targa Resources Corp. and Enterprise Products Partners were among the ten largest holdings, reflecting its strategy in the energy transition sector.
On April 27, 2022, Kayne Anderson announced the appointment of Caroline Winn as an independent director on the boards of Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (KMF). With Ms. Winn's appointment, the boards of both companies will expand to seven directors, enhancing their independent oversight. Ms. Winn brings over 30 years of experience in the utility sector, notably as CEO of San Diego Gas & Electric. Her expertise aims to strengthen the governance and strategic direction of the Companies.
On April 4, 2022, Kayne Anderson announced key promotions within its leadership team. Terry Hart, previously Chief Financial Officer, is now the Chief Operating Officer, having been with the firm since 2005. Colby Parker, who joined in 2014, has been promoted to Chief Financial Officer. Jim Baker, CEO, expressed confidence in both individuals, highlighting their integral roles in the firm's management. The Companies, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF), focus on providing high after-tax returns through investments in energy infrastructure.
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