HRC Fund Associates, LLC Successfully Completes Marketing of Center Coast MLP & Infrastructure Fund (CEN)
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 09/26/13 -- HRC Fund Associates, LLC ("HRC"), Member FINRA/SIPC, is pleased to announce the successful completion of its marketing activities with respect to the Center Coast MLP & Infrastructure Fund (NYSE: CEN) (the "Fund"). HRC provided marketing support services for the Fund's common share offering which raised a total of $290,500,000 in gross proceeds (before deduction of the sales load and offering expenses). Up to 2,175,000 additional common shares may be issued upon exercise of the underwriters' overallotment option, which may not occur. Assuming full exercise of the overallotment option, total gross proceeds of the offering (before deduction of the sales load and offering expenses) would be $334,000,000. The Fund's common shares begin trading today on the New York Stock Exchange under the symbol "CEN." The Fund is managed by Center Coast Capital Advisors, LP, an SEC registered investment adviser. The lead managers of the underwriting syndicate were Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., UBS Securities LLC and RBC Capital Markets, LLC.
The Fund is a newly organized non-diversified closed-end fund. The Fund's investment objective is to provide a high level of total return with an emphasis on distributions to shareholders. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of master limited partnerships ("MLPs") and energy infrastructure companies.
The Fund has retained HRC's affiliate, HRC Portfolio Solutions, LLC, to provide Fund support services.
The HRC Group specializes in bringing focused investment products and strategies to financial advisors and wealth managers at national "wirehouse" brokerage firms, registered investment advisers, and independent broker dealers. Founded in 2003, HRC represents a carefully selected group of money managers across the asset allocation spectrum. Through our wide range of contacts in the industry, HRC has a keen perspective not only on existing allocations but also on identifying emerging investment strategies. We seek to provide value to our clients by identifying asset managers within specific under-served areas of interest.
For more information please contact:
Courtney Murtha
HRC Portfolio Solutions, LLC
(646) 839-5581
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Datum: 26.09.2013 - 18:00 Uhr
Sprache: Deutsch
News-ID 300695
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