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Kayne Anderson Energy Infrastructure Fund, Inc.


Investment Objective

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 80% of its total assets in securities of Energy Infrastructure Companies.

† As of 8/31/21

1) Paid on 7/13/21 (ex-date 7/2/21). (See Distributions section below for more information).

Investment Highlights

Opportunities in North American Energy Infrastructure

  • Unique opportunity to invest across the full spectrum of North American energy infrastructure companies through investments in traditional midstream energy, natural gas infrastructure, renewable infrastructure, and utilities
  • Renewable infrastructure companies and utilities have many attractive attributes, including lower volatility and correlation to the broader equity markets, contracted/regulated cash flows, multi-year growth visibility, and attractive ESG characteristics

Positioned to Capitalize on the Energy Transition

  • Energy Transition is the global shift to a more sustainable mix of lower carbon and renewable energy sources aimed at reducing emissions of carbon dioxide and other greenhouse gasses
  • A multi-decade “mega-trend” in the energy and infrastructure sectors with the goal to reduce emissions of carbon dioxide other greenhouse gasses and limit the impact of climate change

Attractive Fund Structure

  • Simplified tax reporting with a single Form 1099 (no K-1)
  • Suitable for IRAs, foundations, and tax-exempt accounts (no UBTI)

Daily Pricing


Share Price and NAV History

Price/NAV History Table

Premium/Discount to NAV

Total Return (NAV plus distributions)

Period Returns (Not Annualized)

Calendar Year Returns

2) Assumes that distributions have been reinvested at the Dividend Reinvestment Plan (DRIP) price.

Growth of Hypothetical $10,000 Investment3

3) The growth of $10,000 chart is a hypothetical illustration based upon the performance of the fund’s common shares since inception. Ending values as of the dates shown in the chart. Assumes reinvestment of distributions at the DRIP price, the deduction of management fees, operating expenses, and all other fund expenses but does not reflect transaction fees or broker commissions. Current performance may be lower or higher than the performance data quoted.

Returns reflect the deduction of management fees and expenses but does not reflect transaction fees or broker commissions. Performance data quoted represents past performance and is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than that shown based on market fluctuations from the end of the reported period.


Portfolio (%)

Top 10 Holdings

*Includes ownership Plains All American Pipeline, L.P. (PAA) and Plains AAP, L.P. (PAGP-AAP).

Click here for the most recent Schedule of Investments

Reflected as a percentage of long-term investments. Portfolio holdings and/or sector allocations are subject to change at any time, without notice, and are not recommendations to buy or sell any security. You can obtain a complete listing of holdings by viewing our quarterly or annual report for the most recently completed period.


Annual Distributions per Calendar Year

* Based on year-to-date distributions paid or declared.

The amount of distributions is not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions.

KYN Distribution History

KED Distribution History

Tax Character of Distributions

Our distributions are treated as a taxable dividend (qualified dividends) to our common stockholders to the extent of our current and accumulated earnings and profits. If the distribution exceeds our current or accumulated earnings and profits, the distribution will be treated as a return of capital to our common stockholders to the extent of each stockholder’s basis in our common stock, and then the amount of a distribution in excess of such stockholder’s basis would be taxed as capital gain. Because the cash distributions received from the MLPs in our portfolio are expected to exceed the earnings and profits associated with owning such MLPs, a portion of our distributions may be paid from sources other than our current and accumulated earnings and profits. Common stockholders will receive a Form 1099-DIV from us, sample forms for each year can be found within the Tax Information section of this page.

The table below summarizes the tax character of our distributions for the past ten years.

Information on Tax Character of Distributions

4) This estimate is based on our anticipated earnings and profits for fiscal 2021. The final determination of the tax character of distributions will be made in early 2022 and may differ substantially from this preliminary information.


KYN uses leverage in the form of unsecured notes, preferred stock and revolving bank credit facilities to acquire additional portfolio investments consistent with its investment objective and strategies. Under normal conditions, our policy is to utilize leverage in an amount that represents approximately 25% to 30% of the fund’s total assets.

Leverage Summary

*KYN will pay a fixed interest rate of 1.735% on $25 million of the Term Loan. The remaining $25 million of the Term Loan will accrue interest daily at a rate of LIBOR plus 1.30%. Amounts repaid under the Term Loan cannot be reborrowed.

Tax Information


Independent Directors

Interested Directors

  • Jim Baker, Chairman of the Board of Directors, President, and Chief Executive Officer

*Role as the KYN and KMF lead independent director effective April 2, 2020.

This material is provided for informational purposes only. This material 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. Performance data quoted represent past performance and are for the stated time period only, Past performance is not a guarantee of future results. Current performance may be lower or higher than that shown based on market fluctuations from the end of the reported period.

Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. As with any other stock, total return and market value will fluctuate so that an investment, when sold, may be worth more or less than its original cost. Shares of closed-end funds frequently trade at a market price that is below their net asset value.

All investments involve risk, including possible loss of principal. An investment in the fund could suffer loss. The fund’s concentration of investments in energy-related MLPs and midstream entities subjects it to the risks of MLPs, midstream entities and the energy sector, including the risks of declines in energy and commodity prices, decreases in energy demand, adverse weather conditions, natural or other disasters, changes in government regulation, and changes in tax laws. Leverage creates risks which may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares and fluctuations in dividend rates on any preferred shares, and increases a shareholder’s risk of loss. Before investing in the fund, you should consider the investment objective, risks, charges and expenses of the fund, which, together with other important information, are included in the fund’s most recent prospectus and other filings with the SEC, available here or at There can be no assurance that the fund’s investment objective will be attained.

Nothing contained in this communication is intended to recommend any investment policy or investment strategy or take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax or legal adviser regarding your individual circumstances prior to investing.


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