Welcome to our dedicated page for Tortoise Sustainable and Social Impact news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact stock.
Tortoise Sustainable and Social Impact (TEAF) provides investors with strategic exposure to essential assets and sustainable infrastructure projects. This news hub aggregates official updates including earnings announcements, leadership changes, and strategic initiatives related to renewable energy investments and social impact lending.
Access timely updates on TEAF's activities across traditional energy markets and decarbonization efforts. The curated news collection serves as a centralized resource for tracking portfolio developments, regulatory filings, and market positioning within the closed-end fund sector.
Key updates cover income distribution strategies, infrastructure acquisitions, and research-driven investment decisions. Visitors gain insights into how TEAF balances energy transition opportunities with stable income generation through diversified asset management.
Bookmark this page for streamlined access to verified information supporting analysis of TEAF's performance in essential services and sustainable markets. Regular updates ensure stakeholders remain informed about critical developments affecting long-term investment strategies.
Tortoise Capital Advisors, an energy-focused fund manager, announced two strategic senior hires to strengthen its distribution leadership and accelerate institutional and wealth management strategy. Rob Bernstein joins as Head of Institutional Business Development, bringing 30+ years of experience in institutional investing. Previously President at BennBridge US , Bernstein has extensive experience with pensions, endowments, foundations, and OCIOs.
Carter Sims joins as Senior Vice President, Financial Institutions Group, with 35+ years of senior leadership experience. Previously Principal at Third Street Partners and Head of Global Distribution at Thornburg Investment Management, Sims will focus on expanding presence across RIA aggregators, TAMPs, and Bank-Trust platforms.
These appointments align with Tortoise's transformation into a modern, insights-driven investment partner, featuring a restructured distribution team, investment specialist coverage pods, and a data-informed client engagement model.
Tortoise Capital has released unaudited balance sheet information for its closed-end funds as of March 31, 2025. Tortoise Energy Infrastructure Corp. (NYSE:TYG) reported unaudited total assets of $1.0 billion and a net asset value of $822.4 million ($47.72 per share). The company's asset coverage ratios were 612% for senior securities indebtedness and 484% for preferred shares.
Key balance sheet figures for TYG include:
- Investments: $1,044.1 million ($60.58 per share)
- Total leverage: $214.3 million ($12.44 per share)
- Outstanding common shares: 17.24 million
Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) reported unaudited total assets of $214.2 million and a net asset value of $179.8 million ($13.33 per share), with an asset coverage ratio of 638% for senior securities indebtedness.
Tortoise Capital has announced strategic actions following the completion of TEAF's strategic review. The fund is executing significant portfolio changes to enhance shareholder value:
- Engaged Lucid Capital Markets to sell private credit and social infrastructure assets (29% of portfolio, $55.9 million), expected to close around March 20th
- Partnered with Marathon Capital to divest majority of private renewables portfolio, with closing anticipated in Q2 2025
- Proceeds will be reinvested in listed energy infrastructure holdings, while sustainable infrastructure holdings remain unchanged
These changes aim to reduce the discount to net asset value and align with Tortoise Capital's core expertise in managing public energy securities portfolios.
Tortoise Capital announced unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF as of February 28, 2025. Tortoise Energy Infrastructure Corp. (NYSE:TYG) reported unaudited total assets of approximately $1.1 billion and a net asset value of $836.1 million, or $48.51 per share. The company's asset coverage ratio for senior securities representing indebtedness was 629%, and for preferred shares, it was 495%.
Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) reported unaudited total assets of approximately $220.8 million and a net asset value of $187.3 million, or $13.88 per share. The asset coverage ratio for senior securities representing indebtedness was 671%. TYG has 17.24 million common shares outstanding, while TEAF has 13.49 million common shares outstanding. Detailed information on top 10 holdings and direct investments for both funds is available on the company's website.
Tortoise Capital has announced distribution schedules for its closed-end funds, specifically for Tortoise Energy Infrastructure Corp. (NYSE:TYG) and Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF). The monthly distributions will be paid on March 31, April 30, and May 30, 2025, to shareholders of record on March 24, April 23, and May 23, 2025, respectively. The company estimates that for book purposes, the source of distributions for both funds will comprise approximately 0-10% ordinary income, with the remainder classified as return of capital.
Tortoise Sustainable and Social Impact Term Fund (TEAF) has released its fourth quarter 2024 commentary, which details the fund's performance across its public and direct investments in essential asset sectors. The commentary is now accessible on the company's website at cef.tortoiseadvisors.com.
The fund is managed by Tortoise Capital Advisors as the adviser, with RWC Asset Management LLP serving as the sub-adviser. The press release includes standard cautionary statements regarding forward-looking statements and safe harbor provisions, noting that actual results may differ from anticipated outcomes due to various factors.
Tortoise Capital released unaudited balance sheet information for two closed-end funds as of January 31, 2025. Tortoise Energy Infrastructure Corp. (TYG) reported total assets of $1.1 billion and net asset value of $847.3 million ($49.16 per share), with asset coverage ratios of 633% for senior securities and 499% for preferred shares.
Tortoise Sustainable and Social Impact Term Fund (TEAF) disclosed total assets of $221.5 million and net asset value of $189.5 million ($14.04 per share), with an asset coverage ratio of 702% for senior securities. The fund maintains $31.5 million in credit facility borrowings and has 13.49 million common shares outstanding.
Tortoise Capital has announced the removal of EnLink Midstream, (ENLC) from three major indices - the Tortoise MLP Index (TMLP), the Tortoise North American Pipeline Index (TNAP), and the Tortoise Decarbonization Infrastructure Index (DCRBN). This change comes as a result of ENLC's announced acquisition by ONEOK Inc. The removal will take effect at market open on January 31, 2025. While TMLP will undergo a special rebalance, ENLC's weight in TNAP and DCRBN will be distributed pro rata among the remaining index constituents.
Tortoise Capital released unaudited balance sheet information and asset coverage ratio updates for two closed-end funds as of December 31, 2024. Tortoise Energy Infrastructure Corp. (TYG) reported unaudited total assets of $992.7 million and net asset value of $800.6 million ($46.45 per share), with asset coverage ratios of 716% for senior securities indebtedness and 540% for preferred shares.
Tortoise Sustainable and Social Impact Term Fund (TEAF) disclosed unaudited total assets of $220.9 million and net asset value of $188.4 million ($13.96 per share), with an asset coverage ratio of 698% for senior securities indebtedness. TEAF continues to provide monthly updates on direct investments on their website, aiming for a target of 60% direct investments.
Tortoise Capital Advisors has completed the merger of Tortoise Midstream Energy Fund (NYSE:NTG) into Tortoise Energy Infrastructure Corp. (NYSE:TYG), with TYG continuing as the surviving fund. The combined entity has total assets under management of $1.0 billion as of December 20, 2024. TYG will maintain its original investment strategy focusing on energy infrastructure, midstream, power, and renewable assets, seeking high total returns with emphasis on current distributions.
Under the merger terms, TYG acquired all NTG's assets and liabilities, with NTG shares converting to newly issued TYG shares at an exchange ratio of 1.27056339, based on their respective net asset values as of December 20, 2024.
