In This Article:
HOUSTON, Jan. 03, 2023 (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 December 31, 2022.
As of December 31, 2022, the Fund’s net assets were $432.3 million and its net asset value per share was $9.16. As of December 31, 2022, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 650% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 439%.
|
|
|
| ||
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| December 31, 2022 | ||||
| (Unaudited) | ||||
|
|
| (in millions) | ||
| Investments |
| $ | 550.7 |
|
| Cash and cash equivalents |
|
| 2.1 |
|
| Treasury note sold short, net(1) |
|
| 0.4 |
|
| Receivable for securities sold |
|
| 1.3 |
|
| Accrued income |
|
| 1.0 |
|
| Other assets |
|
| 8.1 |
|
| Total assets |
|
| 563.6 |
|
|
|
|
| ||
| Credit facility |
|
| 6.0 |
|
| Notes |
|
| 80.1 |
|
| Unamortized notes issuance costs |
|
| (0.1 | ) |
| Preferred stock |
|
| 41.5 |
|
| Unamortized preferred stock issuance costs |
|
| (0.5 | ) |
| Total leverage |
|
| 127.0 |
|
|
|
|
| ||
| Payable for securities purchased |
|
| 2.0 |
|
| Other liabilities |
|
| 2.3 |
|
| Total liabilities |
|
| 4.3 |
|
|
|
|
| ||
| Net assets |
| $ | 432.3 |
|
|
|
|
| ||
| ________________ |
|
| ||
| (1) Net value of restricted cash proceeds from short position and the fair market value of security sold short. | ||||
|
| ||||
The Fund had 47,197,462 common shares outstanding as of December 31, 2022.
As of December 31, 2022, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments. Long-term investments were comprised of Midstream Company (41%), Natural Gas & LNG Infrastructure Company (25%), Renewable Infrastructure Company (18%), Utility Company (15%) and Debt (1%).
The Fund’s ten largest holdings by issuer at December 31, 2022 were:
|
|
|
| Amount |
| Percent of | ||
| 1. | Enterprise Products Partners L.P. (Midstream Company) |
| $42.2 |
| 7.7 | % | |
| 2 | Targa Resources Corp. (Midstream Company) |
|
| 42.0 |
| 7.6 | % |
| 3. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) |
|
| 35.4 |
| 6.4 | % |
| 4. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) |
|
| 34.5 |
| 6.3 | % |
| 5. | Energy Transfer LP (Midstream Company) |
|
| 31.4 |
| 5.7 | % |
| 6. | Plains GP Holdings, L.P. ** (Midstream Company) |
|
| 30.7 |
| 5.6 | % |
| 7. | MPLX LP (Midstream Company) |
|
| 26.8 |
| 4.9 | % |
| 8. | DT Midstream, Inc. (Natural Gas & LNG Infrastructure Company) |
|
| 22.2 |
| 4.0 | % |
| 9. | NextEra Energy Partners, LP (Renewable Infrastructure Company) |
|
| 21.6 |
| 3.9 | % |
| 10. | Pembina Pipeline Corporation (Midstream Company) |
|
| 19.0 |
| 3.4 | % |
|
|
|
|
|
|
|
|
|
| _________________ |
|
|
|
|
|
| |
| * | Includes ownership of equity and debt investments. | ||||||
| ** | Includes ownership of Plains GP Holdings, L.P. (“PAGP”), Plains All American Pipeline, L.P. (“PAA”) 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.