Fundraising - JANUARY 11, 2017

Tortoise launches energy and infrastructure fund

by Jody Barhanovich

Tortoise Capital Advisors has launched Tortoise North American Energy Infrastructure Fund, according to a statement from the firm.

Tortoise North American Energy Infrastructure Fund is structured as an Undertaking for Collective Investment in Transferable Securities, or UCITS, fund domiciled in Luxembourg.

“The fund focuses on the large and diverse North American pipeline universe, providing access to the sizable pipeline network of one of the world’s largest producers and consumers of energy,” says Brent Newcomb, a director with Tortoise Capital Advisors,in a statement.

Tortoise North American Energy Infrastructure Fund’s strategy is based on Tortoise’s U.S. mutual fund, Tortoise MLP & Pipeline Fund (TORTX, TORCX, TORIX), which was launched in 2011 and invests in MLPs and MLP-related securities. Minimum investment levels for the fund are set at $2,500 for retail investors and $1 million for institutional investors.

“We believe the current investment opportunity is particularly attractive given valuations, industry fundamentals and the industry growth trends,” says portfolio manager Brian Kessens in a statement.  “This growth potential starts with energy production leading to increased energy transportation needs, including exports of low-cost energy from the United States to the rest of the world.”

Tortoise Capital Advisors is an investment manager specializing in listed energy investing and one of the largest investment managers of U.S. registered energy infrastructure funds.

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