HOUSTON, Feb. 01, 2021 (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 January 31, 2021.
As of January 31, 2021, the Fund’s net assets were $366 million and its net asset value per share was $7.74. As of January 31, 2021, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 469% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 373%.
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| January 31, 2021 | ||||
| (Unaudited) | ||||
| (in millions) | ||||
| Investments | $ | 490.6 | ||
| Cash and cash equivalents | 1.9 | |||
| Receivable for securities sold | 7.7 | |||
| Accrued income | 2.0 | |||
| Other assets | 1.4 | |||
| Total assets | 503.6 | |||
| Credit facility | 22.0 | |||
| Notes | 84.5 | |||
| Unamortized notes issuance costs | (0.3 | ) | ||
| Preferred stock | 27.5 | |||
| Unamortized preferred stock issuance costs | (0.2 | ) | ||
| Total leverage | 133.5 | |||
| Payable for capital shares purchased | - | |||
| Payable for securities purchased | 2.0 | |||
| Other liabilities | 2.6 | |||
| Total liabilities | 4.6 | |||
| Net assets | $ | 365.5 | ||
The Fund had 47,197,462 common shares outstanding as of January 31, 2021.
As of January 31, 2021, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $491 million. Long-term investments were comprised of Midstream Company (49%), Renewable Infrastructure Company (28%), Utility Company (20%), Other Energy (1%), Infrastructure Company (1%) and Debt (1%)
The Fund’s ten largest holdings by issuer at January 31, 2021 were:
| Amount | Percent of | ||||||
| 1. | Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company) | $29.9 | 6.1 | % | |||
| 2. | The Williams Companies, Inc. (Midstream Company) | 28.6 | 5.8 | % | |||
| 3. | Targa Resources Corp. (Midstream Company) | 28.1 | 5.7 | % | |||
| 4. | Enterprise Products Partners L.P. (Midstream Company) | 25.4 | 5.2 | % | |||
| 5. | Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company) | 20.6 | 4.2 | % | |||
| 6. | NextEra Energy Partners, LP (Renewable Infrastructure Company) | 19.9 | 4.1 | % | |||
| 7. | Kinder Morgan, Inc. (Midstream Company) | 16.3 | 3.3 | % | |||
| 8. | Cheniere Energy, Inc. (Midstream Company) | 14.1 | 2.9 | % | |||
| 9. | TC Energy Corporation (Midstream Company) | 13.4 | 2.7 | % | |||
| 10. | Northland Power Inc. (Renewable Infrastructure Company) | 12.8 | 2.6 | % | |||
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* Excludes cash.
** Includes ownership of Brookfield Renewable Partners, L.P (“BEP”) and Brookfield Renewable Corporation (“BEPC”).