Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of March 31, 2025

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has released its unaudited financial statement as of March 31, 2025. The fund reported net assets of $2.5 billion and a net asset value per share of $14.64. The company's asset coverage ratios showed strong positions with 639% for senior securities indebtedness and 486% for total leverage.

The fund's portfolio primarily consists of Midstream Energy Companies (95%), with smaller allocations to Utility Companies (2%) and Other (3%). The top three holdings include The Williams Companies (10.5%), Enterprise Products Partners (10.3%), and Energy Transfer LP (10.0%). Total assets stood at $3.47 billion, with total leverage of $637.5 million.

Positive

• Strong asset coverage ratios: 639% for senior securities and 486% for total leverage
• Substantial portfolio value of $3.47 billion in total assets
• Well-diversified portfolio across major midstream energy companies
• Low debt levels relative to total assets

Negative

• High concentration risk with 95% of investments in Midstream Energy sector
• Significant exposure to top 10 holdings accounting for over 75% of portfolio

Insights

Closed-End Fund Analyst

Kayne Anderson Energy Infrastructure Fund's latest financial disclosure reveals a strong financial position and presents several positive indicators for investors. With $2.5 billion in net assets and a NAV of $14.64 per share compared to the current market price of $12.97, the fund trades at an approximate 11.4% discount to NAV - a potential value opportunity for investors seeking exposure to energy infrastructure.

The fund's asset coverage ratios are particularly noteworthy: 639% for debt and 486% for total leverage. These figures substantially exceed the regulatory requirements under the 1940 Act and demonstrate conservative leverage management, providing significant downside protection against asset value fluctuations.

The portfolio maintains a disciplined focus with 95% allocation to midstream energy companies, allowing investors concentrated exposure to this sector. The top three holdings - Williams Companies, Enterprise Products Partners, and Energy Transfer - comprise approximately 30.8% of long-term investments, providing access to established players with typically stable cash flows. The top 10 holdings represent about 75.3% of long-term investments, indicating notable concentration that aligns with the fund's specialized mandate.

From a balance sheet perspective, the $637.5 million in total leverage against $3.47 billion in assets shows thoughtful capital structure management while employing moderate leverage to potentially enhance returns. The deferred tax liability of $344.3 million is an important component affecting the NAV calculation that investors should consider when evaluating the fund's performance metrics.

HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) 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 March 31, 2025.

As of March 31, 2025, the Company’s net assets were $2.5 billion, and its net asset value per share was $14.64. As of March 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 639% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 486%.

STATEMENT OF ASSETS AND LIABILITIES MARCH 31, 2025   // (UNAUDITED)
		(in millions)
Investments		$	3,447.3
Cash and cash equivalents			17.2
Accrued income			2.5
Other assets			1.1
Total assets			3,468.1
Credit facility			78.0
Notes			409.7
Unamortized notes issuance costs			(2.6	)
Preferred stock			153.6
Unamortized preferred stock issuance costs			(1.2	)
Total leverage			637.5
Other liabilities			8.6
Current tax liability, net			1.8
Deferred tax liability, net			344.3
Total liabilities			354.7
Net assets		$	2,475.9

The Company had 169,126,038 common shares outstanding as of March 31, 2025.

Long-term investments were comprised of Midstream Energy Companies (95%), Utility Companies (2%) and Other (3%).  

The Company’s ten largest holdings by issuer at March 31, 2025 were:

				Amount (in millions)		% Long Term Investments
1.	The Williams Companies, Inc. (Midstream Energy Company)		$361.5			10.5	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)			353.6		10.3	%
3.	Energy Transfer LP (Midstream Energy Company)			345.7		10.0	%
4.	MPLX LP (Midstream Energy Company)			329.7		9.6	%
5.	Cheniere Energy, Inc. (Midstream Energy Company)			265.2		7.7	%
6.	Kinder Morgan, Inc. (Midstream Energy Company)			223.1		6.5	%
7.	Targa Resources Corp. (Midstream Energy Company)			203.0		5.9	%
8.	ONEOK, Inc. (Midstream Energy Company)			201.6		5.8	%
9.	TC Energy Corporation (Midstream Energy Company)			159.1		4.6	%
10.	Western Midstream Partners, LP (Midstream Energy Company)			150.5		4.4	%

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 Company’s most recent quarterly or annual report.

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.

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

What is KYN's net asset value per share as of March 31, 2025?

KYN's net asset value per share was $14.64 as of March 31, 2025.

How much of KYN's portfolio is invested in Midstream Energy Companies?

95% of KYN's long-term investments are in Midstream Energy Companies.

What are KYN's asset coverage ratios as of March 31, 2025?

KYN's asset coverage ratio was 639% for senior securities indebtedness and 486% for total leverage.

What are the top 3 holdings in KYN's portfolio?

The top holdings are Williams Companies (10.5%), Enterprise Products Partners (10.3%), and Energy Transfer LP (10.0%).

What is the total asset value of KYN's investment portfolio?

KYN's total investments value is $3.47 billion as of March 31, 2025.