As of May 30, 2025, Tortoise Capital has released its unaudited balance sheet information for two of its closed-end funds: Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise Sustainable and Social Impact Term Fund (NYSE: TEAF). The financial disclosures indicate significant assets and robust asset coverage ratios for both funds, suggesting solid management practices.
#Tortoise Energy Infrastructure Corp. (TYG) Updates
For TYG, the company reported unaudited total assets amounting to approximately $969.2 million. The net asset value (NAV) was recorded at $772.2 million, translating to about $44.80 per share. Notably, TYG's asset coverage ratio concerning senior securities representing indebtedness stood at an impressive 679%, while the coverage ratio for preferred shares was documented at 515%. These metrics demonstrate a favorable financial position, emphasizing TYG's stability in meeting its obligations.
#Tortoise Sustainable and Social Impact Term Fund (TEAF) Updates
TEAF also revealed strong financial results, reporting total assets of approximately $209.2 million and an unaudited NAV of $177.0 million, or $13.12 per share. The asset coverage ratio under the 1940 Act for TEAF was recorded at 664% for senior securities, reinforcing a stable financial framework that indicates the fund's capacity to manage its liabilities effectively.
As of the end of May 2025, TYG had approximately 17.24 million common shares outstanding, whereas TEAF's count was about 13.49 million. The number of shares outstanding is critical for investors, as it directly impacts liquidity and market capitalization.
Tortoise Capital continues to leverage its extensive experience in midstream energy investments, managing approximately $8.8 billion in assets as of April 30, 2025. The firm is positioned to engage with the evolving demands within the global energy landscape, a testament to its strategic investment philosophy.
As of May 30, 2025, TYG reported unaudited total assets of approximately $969.2 million and an unaudited net asset value of $772.2 million, amounting to about $44.80 per share. These figures indicate a robust financial position, reflecting strong asset management.
TYG's asset coverage ratio for senior securities representing indebtedness stands at an impressive 679%, while the coverage ratio for preferred shares is 515%. These ratios suggest that TYG is well-positioned to meet its financial obligations, indicating a strong leverage management strategy.
As of May 30, 2025, TEAF's asset coverage ratio for senior securities was reported at 664%. This high coverage ratio points to a stable financial foundation, enhancing investor confidence in the fund's ability to manage its debt responsibly.
TEAF reported total assets of approximately $209.2 million and an unaudited net asset value of $177.0 million, equating to about $13.12 per share as of May 30, 2025. These figures denote a solid valuation for the fund's holdings.
As of the latest update, TYG has 17.24 million common shares outstanding, while TEAF has 13.49 million. The number of outstanding shares is a critical factor for investors as it influences share liquidity and market capitalisation.
Tortoise Capital manages approximately $8.8 billion in assets and has a strong focus on midstream energy investments. Their long-term experience and strategic positioning within the energy sector may offer growth potential, driven by evolving global energy demands.
Investors can access detailed performance updates and portfolio information for both TYG and TEAF on Tortoise Capital's dedicated web pages, which provide transparency and insights into fund holdings and strategies. This accessibility can aid investors in making informed decisions.
Investors should be aware that forward-looking statements involve assumptions and uncertainties that could lead to different actual results. It's prudent to not rely solely on these projections but instead consider a range of factors influencing the funds' performances.