Tortoise Capital Advisors, a Kansas-based fund manager focused on energy investing, has brought several key fund initiatives to a close ahead of the new year.
Tortoise Capital completed a strategic merger between closed-end funds Tortoise Midstream Energy Fund (NTG) and Tortoise Energy Infrastructure Corp. (TYG), with TYG emerging as the continuing fund. The combined total assets under management were approximately $1 billion as of Dec. 20.
The manager said TYG will maintain its original investment strategy and objective, becoming Tortoise Capital’s flagship closed-end fund solution for investors seeking exposure to energy in the closed-end fund structure. TYG provides investors with exposure to energy infrastructure and long-lived and essential midstream, power and renewable assets. It seeks a high level of total return, emphasizing current distr
