Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at March 31, 2022
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HOUSTON, April 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 March 31, 2022.
As of March 31, 2022, the Fund’s net assets were $500.0 million and its net asset value per share was $10.59. As of March 31, 2022, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 526% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 397%.
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | |||
| Statement of Assets and Liabilities | |||
| March 31, 2022 | |||
| (Unaudited) | |||
| (in millions) | |||
| Investments | $ | 658.6 | |
| Cash and cash equivalents | 1.0 | ||
| Accrued income | 1.0 | ||
| Other assets | 9.2 | ||
| Total assets | 669.8 | ||
| Credit facility | 47.0 | ||
| Notes | 80.1 | ||
| Unamortized notes issuance costs | |||
| Preferred stock | 41.5 | ||
| Unamortized preferred stock issuance costs | |||
| Total leverage | 167.8 | ||
| Other liabilities | 2.0 | ||
| Net assets | $ | 500.0 | |
The Fund had 47,197,462 common shares outstanding as of March 31, 2022.
As of March 31, 2022, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $659 million. Long-term investments were comprised of Midstream Company (36%), Natural Gas & LNG Infrastructure Company (23%), Renewable Infrastructure Company (19%), Utility Company (18%), Other Energy (3%) and Debt (1%).
The Fund’s ten largest holdings by issuer at March 31, 2022 were:
| Amount | Percent of | ||||||
| 1. | Targa Resources Corp. (Midstream Company) | $ | 47.5 | 7.2 | % | ||
| 2. | Enterprise Products Partners L.P. (Midstream Company) | 38.2 | 5.8 | % | |||
| 3. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) | 36.8 | 5.6 | % | |||
| 4. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) | 35.9 | 5.4 | % | |||
| 5. | MPLX LP (Midstream Company) | 29.5 | 4.5 | % | |||
| 6. | Energy Transfer LP (Midstream Company) | 29.4 | 4.5 | % | |||
| 7. | TC Energy Corporation (Natural Gas & LNG Infrastructure Company) | 26.8 | 4.1 | % | |||
| 8. | Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company) | 25.8 | 3.9 | % | |||
| 9. | DT Midstream, Inc. (Natural Gas & LNG Infrastructure Company) | 21.8 | 3.3 | % | |||
| 10. | Kinder Morgan, Inc. (Natural Gas & LNG Infrastructure Company) | 21.6 | 3.3 | % | |||
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* 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.