Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of January 31, 2025
Rhea-AI Summary
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has released its unaudited financial statement as of January 31, 2025. The company reported net assets of $2.4 billion and a net asset value per share of $14.46. The fund's asset coverage ratio for senior securities representing indebtedness was 623%, while the ratio for total leverage was 476%.
The fund's portfolio consists primarily of Midstream Energy Companies (94%), with smaller allocations to Utility Companies (4%) and Other (2%). The top three holdings are Energy Transfer LP (11.3%), Enterprise Products Partners L.P. (9.8%), and The Williams Companies, Inc. (9.5%). Total assets amount to $3.47 billion, with investments valued at $3.45 billion.
Positive
- Strong asset coverage ratios: 623% for debt and 476% for total leverage
- Substantial total assets of $3.47 billion
- Well-diversified portfolio across major midstream energy companies
Negative
- None.
Insights
The latest financial disclosure from Kayne Anderson Energy Infrastructure Fund presents a compelling picture of financial strength and strategic positioning in the energy infrastructure sector. The fund's $2.4 billion in net assets and $3.45 billion in investments demonstrate significant scale in the midstream energy space.
The fund's coverage ratios are particularly noteworthy, with a 623% asset coverage ratio for debt and 476% for total leverage. These metrics substantially exceed the 1940 Act's minimum requirements of 300% and 200% respectively, indicating conservative leverage management and significant financial flexibility. This robust coverage provides a safety buffer against market volatility and potential asset value fluctuations.
The portfolio composition reveals a focused strategy with 94% allocation to midstream energy companies. The top 10 holdings represent approximately 74% of long-term investments, featuring industry leaders with stable cash flows and critical infrastructure assets. This concentration in large-cap, established players suggests a focus on steady income generation and capital preservation.
Notable aspects of the balance sheet include:
- A relatively modest cash position of
$1.8 million , indicating efficient capital deployment - A net current tax asset of
$6.4 million and deferred tax liability of$342.8 million , reflecting the tax-efficient nature of midstream investments - Total leverage of
$646.3 million , structured through a combination of credit facility, notes and preferred stock, demonstrating diverse funding sources
The fund's positioning in essential energy infrastructure assets, combined with its strong financial metrics and conservative leverage management, suggests a well-structured investment vehicle for investors seeking exposure to energy infrastructure with managed risk levels.
HOUSTON, Feb. 03, 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 January 31, 2025.
As of January 31, 2025, the Company’s net assets were
| STATEMENT OF ASSETS AND LIABILITIES JANUARY 31, 2025 // (UNAUDITED) | |||||||
| (in millions) | |||||||
| Investments | $ | 3,450.6 | |||||
| Cash and cash equivalents | 1.8 | ||||||
| Accrued income | 9.9 | ||||||
| Current tax asset, net | 6.4 | ||||||
| Other assets | 0.4 | ||||||
| Total assets | 3,469.1 | ||||||
| Credit facility | 87.0 | ||||||
| Notes | 409.7 | ||||||
| Unamortized notes issuance costs | (2.7 | ) | |||||
| Preferred stock | 153.6 | ||||||
| Unamortized preferred stock issuance costs | (1.3 | ) | |||||
| Total leverage | 646.3 | ||||||
| Payable for securities purchased | 18.8 | ||||||
| Other liabilities | 16.3 | ||||||
| Deferred tax liability, net | 342.8 | ||||||
| Total liabilities | 377.9 | ||||||
| Net assets | $ | 2,444.9 | |||||
The Company had 169,126,038 common shares outstanding as of January 31, 2025.
Long-term investments were comprised of Midstream Energy Companies (
The Company’s ten largest holdings by issuer at January 31, 2025 were:
| Amount (in millions)* | % Long Term Investments | ||||||
| 1. | Energy Transfer LP (Midstream Energy Company) | 11.3 | % | ||||
| 2. | Enterprise Products Partners L.P. (Midstream Energy Company) | 338.2 | 9.8 | % | |||
| 3. | The Williams Companies, Inc. (Midstream Energy Company) | 327.6 | 9.5 | % | |||
| 4. | MPLX LP (Midstream Energy Company) | 320.4 | 9.3 | % | |||
| 5. | Cheniere Energy, Inc. (Midstream Energy Company) | 256.3 | 7.4 | % | |||
| 6. | Targa Resources Corp. (Midstream Energy Company) | 208.8 | 6.1 | % | |||
| 7. | Kinder Morgan, Inc. (Midstream Energy Company) | 207.3 | 6.0 | % | |||
| 8. | ONEOK, Inc. (Midstream Energy Company) | 183.1 | 5.3 | % | |||
| 9. | TC Energy Corporation (Midstream Energy Company) | 155.6 | 4.5 | % | |||
| 10. | Western Midstream Partners, LP (Midstream Energy Company) | 151.2 | 4.4 | % | |||
| * | Includes ownership of common and preferred units. | ||||||
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
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
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