Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at October 31, 2023
HOUSTON, Nov. 01, 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 October 31, 2023.
As of October 31, 2023, the Fund’s net assets were $385.1 million and its net asset value per share was $8.16. As of October 31, 2023, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 832% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 486%.
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| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| October 31, 2023 | ||||
| (Unaudited) | ||||
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| (in millions) | ||
| Investments |
| $ | 444.2 |
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| Cash and cash equivalents |
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| 54.5 |
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| Accrued income |
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| 2.5 |
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| Other assets |
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| 1.1 |
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| Total assets |
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| 502.3 |
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| Notes |
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| 58.2 |
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| Unamortized notes issuance costs |
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| (0.4 | ) |
| Preferred stock |
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| 41.5 |
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| Unamortized preferred stock issuance costs |
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| (0.4 | ) |
| Total leverage |
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| 98.9 |
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| Payable for securities purchased |
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| 16.3 |
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| Other liabilities |
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| 2.0 |
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| Total liabilities |
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| 18.3 |
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| Net assets |
| $ | 385.1 |
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The Fund had 47,197,462 common shares outstanding as of October 31, 2023.
Long-term investments were comprised of Midstream Company (53%), Natural Gas & LNG Infrastructure Company (30%), Renewable Infrastructure Company (7%), Utility Company (6%) and Other Energy (4%).
The Fund’s ten largest holdings by issuer at October 31, 2023 were:
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| Amount |
| Percent of | ||
| 1 | Enterprise Products Partners L.P. (Midstream Company) |
| $49.2 |
| 11.1 | % | |
| 2. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 42.5 |
| 9.6 | % |
| 3. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 38.3 |
| 8.6 | % |
| 4. | Targa Resources Corp. (Midstream Company) |
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| 37.8 |
| 8.5 | % |
| 5. | ONEOK, Inc. (Midstream Company) |
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| 31.1 |
| 7.0 | % |
| 6. | Plains GP Holdings, L.P. ** (Midstream Company) |
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| 30.9 |
| 7.0 | % |
| 7. | MPLX LP (Midstream Company) |
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| 24.3 |
| 5.5 | % |
| 8. | Sempra Energy (Utility Company) |
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| 17.4 |
| 3.9 | % |
| 9. | Energy Transfer LP (Midstream Company) |
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| 16.9 |
| 3.8 | % |
| 10. | Kinder Morgan, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 15.7 |
| 3.5 | % |
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* Includes ownership of common and preferred units.
** Includes ownership of Plains GP Holdings, L.P. (“PAGP”) and Plains AAP, L.P. (“PAGP-AAP”).
