Kayne Anderson Closed-End Funds Announce Officer Promotions

Rhea-AI Summary

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.

Positive

• Terry Hart's promotion to COO reflects internal growth and stability in leadership.
• Colby Parker's elevation to CFO indicates confidence in his capabilities and continuity in financial management.

Negative

• None.

HOUSTON, April 04, 2022 (GLOBE NEWSWIRE) -- KA Fund Advisors, LLC (“Kayne Anderson”), which serves as the adviser to Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF, referred to collectively as the “Companies”), announced today the following promotions:

Terry Hart, who has previously served as Chief Financial Officer of the Companies, has been appointed Chief Operating Officer, and Colby Parker, who has previously served as Vice President and Assistant Treasurer of the Companies, has been appointed Chief Financial Officer.

“We are very pleased to announce the promotions of Terry and Colby. Terry has been an integral part of our management team since joining Kayne Anderson in 2005. He has done a fantastic job as Chief Financial Officer over the past 17 years, and I’m sure he will continue that success in his new role as Chief Operating Officer,” said Jim Baker, Chairman, President, and Chief Executive Officer of the Companies.

“Likewise, Colby has been an essential member of our team since joining Kayne Anderson in 2014. His responsibilities administering our closed-end funds have continued to grow, and we have the utmost confidence in his ability to take over as Chief Financial Officer of the funds,” continued Mr. Baker.

“I am excited and honored to transition into this new leadership role. I have been fortunate to work with some outstanding team members in my past 17 years at Kayne Anderson and I look forward to continuing our work together to achieve great success for the closed-end funds,” said Mr. Hart.

“I want to thank Jim and Terry both for their leadership and mentorship in my time here at Kayne Anderson. I am grateful for this opportunity and committed to continuing our success as one of the leading energy infrastructure asset managers,” said Mr. Parker.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) 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 Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

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 consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

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 Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or 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 Company’s investment objectives will be attained.

Contact: Investor Relations at 877-657-3863 or cef@kaynecapital.com

FAQ

What were the leadership changes at Kayne Anderson on April 4, 2022?

Terry Hart was promoted to Chief Operating Officer, and Colby Parker became the Chief Financial Officer.

What is the focus of Kayne Anderson Energy Infrastructure Fund (KYN)?

KYN aims to provide high after-tax returns by investing at least 80% of its assets in energy infrastructure companies.

What is the investment objective of Kayne Anderson NextGen Energy & Infrastructure (KMF)?

KMF seeks high total returns with an emphasis on cash distributions, investing primarily in 'NextGen' energy and infrastructure companies.

Who is the CEO of Kayne Anderson?

Jim Baker serves as the Chairman, President, and CEO of Kayne Anderson.

How long has Terry Hart been with Kayne Anderson?

Terry Hart has been with the company since 2005.

When were the promotions at Kayne Anderson announced?

The promotions were announced on April 4, 2022.