HOUSTON, Texas, March 02, 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 February 28, 2021.
As of February 28, 2021, the Fund’s net assets were $360 million and its net asset value per share was $7.64. As of February 28, 2021, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 492% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 401%.
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | |||
| Statement of Assets and Liabilities | |||
| February 28, 2021 | |||
| (Unaudited) | |||
| (in millions) | |||
| Investments | $ | 476.1 | |
| Cash and cash equivalents | 2.5 | ||
| Accrued income | 1.3 | ||
| Other assets | 1.7 | ||
| Total assets | 481.6 | ||
| Credit facility | 13.0 | ||
| Notes | 84.5 | ||
| Unamortized notes issuance costs | (0.3 | ) | |
| Preferred stock | 22.2 | ||
| Unamortized preferred stock issuance costs | (0.2 | ) | |
| Total leverage | 119.2 | ||
| Payable for capital shares purchased | - | ||
| Other liabilities | 2.0 | ||
| Net assets | $ | 360.4 | |
The Fund had 47,197,462 common shares outstanding as of February 28, 2021.
As of February 28, 2021, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $476 million. Long-term investments were comprised of Midstream Company (52%), Renewable Infrastructure Company (25%), Utility Company (19%), Other Energy (2%), Infrastructure Company (1%) and Debt (1%)
The Fund’s ten largest holdings by issuer at February 28, 2021 were:
| Amount | Percent of | ||||||
| 1. | Targa Resources Corp. (Midstream Company) | $ | 31.7 | 6.7 | % | ||
| 2. | The Williams Companies, Inc. (Midstream Company) | 30.8 | 6.5 | % | |||
| 3. | Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company) | 26.7 | 5.6 | % | |||
| 4. | Enterprise Products Partners L.P. (Midstream Company) | 25.9 | 5.4 | % | |||
| 5. | Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company) | 18.0 | 3.8 | % | |||
| 6. | NextEra Energy Partners, LP (Renewable Infrastructure Company) | 17.7 | 3.7 | % | |||
| 7. | Kinder Morgan, Inc. (Midstream Company) | 17.0 | 3.6 | % | |||
| 8. | Cheniere Energy, Inc. (Midstream Company) | 15.0 | 3.1 | % | |||
| 9. | TC Energy Corporation (Midstream Company) | 13.1 | 2.8 | % | |||
| 10. | MPLX LP (Midstream Company) | 13.1 | 2.7 | % | |||
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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.