Tortoise Capital Plans Merger of Two Closed-End Funds and Strategic Review of Ecofin Sustainable and Social Impact Term Fund
Tortoise Midstream Energy Fund, Inc. (NTG)
US:NYSE Investor Relations:
tortoiseadvisors.com
Company Research
Source: PR Newswire
OVERLAND PARK, Kan., Sept. 5, 2024 /PRNewswire/ -- Tortoise Capital Advisors, L.L.C., a fund manager focused on traditional energy and power infrastructure investing, today announced plans to merge two of its closed-end funds.The board of directors of each of Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) and Tortoise Energy Infrastructure Corp. (NYSE: TYG) have approved the merger of NTG into TYG, with TYG as the surviving company. TYG invests in energy infrastructure companies and is positioned to benefit from growing energy demand and accelerated efforts to reduce global CO2 emissions from energy consumption. The combined assets of the two funds, including leverage, totaled $914.4 million as of Aug. 31, 2024. Tortoise Capital Advisors, the manager of NTG and TYG, would continue to manage the combined fund with the same investment team. Subject to and upon completion of the merger, the board of TYG also approved a 40% increase in distributions, which will be paid monthly versus qu
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Sec Filings
- 9/3/24 - Form 4
- 9/3/24 - Form N-PX
- 8/8/24 - Form N-CSRS
- NTG's page on the SEC website