Kayne Anderson Energy Infrastructure Fund Announces Appointment of New Independent Directors

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has appointed two new independent directors: Holli C. Ladhani and Michael N. Mears, effective immediately. These appointments restore the Board to eight members, with seven being independent. Ladhani brings extensive experience from energy and infrastructure sectors, having served as CEO of Select Energy Services and holding board positions at notable companies like Quanta Services and AmSpec. Mears, former Chairman and CEO of Magellan Midstream Partners until 2022, currently serves on the boards of Devon Energy and Sempra. The appointments follow the retirements of Anne K. Costin and Albert L. Richey. KYN's investment objective focuses on providing high after-tax returns through investments in Energy Infrastructure Companies, with at least 80% of total assets allocated to this sector.

Positive

• Strengthened board oversight with two highly experienced energy sector executives
• Maintained strong independent board composition with 7 out of 8 members being independent
• New directors bring diverse expertise from multiple energy infrastructure companies

Negative

• None.

HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company” or “KYN”) announced today the appointments of Holli C. Ladhani and Michael N. Mears as independent directors of the Company, effective immediately. Following the retirements of Anne K. Costin and Albert L. Richey earlier this year, the appointments of Ms. Ladhani and Mr. Mears return the Company’s Board to eight members, seven of whom are independent.

Holli C. Ladhani is an experienced executive and board director in the energy, chemicals, power, and infrastructure sectors. Ms. Ladhani most recently served as President, Chief Executive Officer, and a member of the board of directors of Select Energy Services, Inc., a publicly traded provider of water management and chemical solutions to the energy industry. Prior to that, she was Chairman and CEO of Rockwater Energy Solutions, where she also held earlier executive roles, including Chief Financial Officer. Earlier in her career, Ms. Ladhani served as Executive Vice President and CFO of Dynegy Inc., and began her professional journey at PricewaterhouseCoopers.

Ms. Ladhani currently serves on the boards of Quanta Services, Inc. (NYSE: PWR), AmSpec, and the forthcoming Amrize spin-off from Holcim (NYSE: AMRZ). She previously served on the boards of Marathon Oil (until its acquisition by ConocoPhillips in 2024), Atlantic Power, Noble Energy, and Rosetta Resources. She has also served on the Board of Trustees of Rice University since 2018. Ms. Ladhani holds a Bachelor of Business Administration in Accounting from Baylor University and an MBA from Rice University.

Michael N. Mears is an accomplished executive in the energy infrastructure sector and an experienced director in the energy and power sectors. Mr. Mears most recently served as Chairman, President, and Chief Executive Officer of Magellan Midstream Partners, L.P., a publicly traded pipeline and storage company, from 2011 until his retirement in April 2022. He joined Magellan at its formation in 2002 and held several senior leadership roles, including Chief Operating Officer and Senior Vice President of Transportation and Terminals. Prior to Magellan, Mr. Mears held a range of management positions at Williams Pipeline Company, the predecessor to Magellan, where he began his career in 1985.

Mr. Mears currently serves on the boards of Devon Energy Corporation (NYSE: DVN) and Sempra (NYSE: SRE). At Sempra, he chairs the Corporate Governance Committee and serves on the Executive and Compensation and Talent Development Committees. Mr. Mears holds a Bachelor of Science degree in Chemical and Petroleum Refining Engineering from the Colorado School of Mines.

“We are honored to welcome Holli and Mike to KYN’s Board of Directors,” said Jim Baker, Chairman, President, and CEO. “Their extensive experience in the energy and power sectors – as both senior executives and directors – will bring valuable insight to our Board. The energy and power infrastructure sectors continue to be very dynamic, and I am confident their insights will strengthen our ability to evaluate opportunities in these sectors with greater perspective,” concluded Mr. Baker.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

The Company pays cash distributions to common stockholders at a rate that may be adjusted from time to time. Distribution amounts are not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions. 

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

FAQ

Who are the new directors appointed to KYN's board in May 2025?

Holli C. Ladhani and Michael N. Mears were appointed as independent directors to KYN's board, effective May 27, 2025.

What is Holli Ladhani's background and experience before joining KYN's board?

Holli Ladhani previously served as President and CEO of Select Energy Services, Chairman and CEO of Rockwater Energy Solutions, and CFO of Dynegy Inc. She currently serves on boards of Quanta Services, AmSpec, and Amrize.

What is Michael Mears' professional experience in the energy sector?

Michael Mears served as Chairman, President, and CEO of Magellan Midstream Partners from 2011 to 2022. He currently serves on the boards of Devon Energy and Sempra.

What is KYN's main investment objective?

KYN aims to provide high after-tax total returns with emphasis on cash distributions to stockholders, investing at least 80% of total assets in Energy Infrastructure Companies.