HOUSTON, April 14, 2016 /PRNewswire/ -- Center Coast Capital Advisors, LP ("Center Coast" or the "Firm") announces today that Jeff Jorgensen has been added as a Senior Portfolio Manager to Center Coast MLP & Infrastructure Fund (NYSE: CEN) (the "Fund") and the Firm's other investment management products. In addition to his new role as a Senior Portfolio Manager, Mr. Jorgensen will continue to serve as the Firm's Director of Research where he is responsible for leading Center Coast's research efforts across all of its energy infrastructure investment products.
Dan Tutcher, Founder and Senior Portfolio Manager, said, "Since hiring Jeff two years ago, he has played a vital role in our research and investment process and helped us navigate a challenging oil and gas market. Jeff has also played a prominent role in presenting Center Coast's investment views to clients and helped us add significant talent and depth to our research and investment team. Adding Jeff as a Senior Portfolio Manager enhances our flexibility and positions us to continue the Firm's and the Fund's objective of providing a high level of total return by investing in high quality energy MLPs and infrastructure investments."
Prior to his two years as Director of Research, Jeff served as an Executive Director in the Global Natural Resources Group of UBS Investment Bank where he focused on MLPs and other oil and gas sub-sectors. During his tenure at UBS he worked on over $20 billion of MLP and energy equity offerings, $10 billion of M&A transactions and $20 billion of debt deals. Mr. Jorgensen's previous experience includes working as an investment banker with Morgan Stanley's Global Energy Group and as an oil & gas finance attorney for Bracewell & Giuliani LLP. Prior to his professional career, Mr. Jorgensen was an outfielder in the Houston Astros organization. He received a J.D., with Honors, from the University Of Texas School Of Law and a B.A. in Economics, Managerial Studies and Sports Management from Rice University.
About Center Coast Capital Advisors, LP
Center Coast Capital Advisors, LP ("Center Coast") serves as the Fund's investment advisor and is responsible for the management of the Fund. Center Coast is a registered investment advisor headquartered in Houston, Texas focused on energy infrastructure investments. Center Coast combines the expertise of midstream and energy infrastructure operators and financial and investment professionals. As the Center Coast portfolio management team includes a former CEO and manager of one of the largest MLPs, they have historically analyzed, operated or purchased a large number of the assets within the MLP sector. Center Coast currently has over $3.0 billion as of March 31, 2016 in MLP assets under management.
About the Center Coast MLP & Infrastructure Fund (NYSE: CEN)
The Fund is a non-diversified closed-end management investment company. The Fund's investment objective is to provide a high level of total return with an emphasis on distributions to shareholders. The "total return" sought by the Fund includes appreciation in the net asset value of the Fund's common shares and all distributions made by the Fund to its common shareholders, regardless of the tax characterization of such distributions, including distributions characterized as return of capital. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of master limited partnerships ("MLPs") and energy infrastructure companies. Under normal market conditions, the Fund will invest at least 80% of its managed assets in securities of MLPs and energy infrastructure companies. The Fund may invest up to 20% of its managed assets in unregistered or restricted securities, including securities issued by private companies. The Fund utilizes leverage as part of its investment strategy. There is no assurance that the Fund will achieve its investment objective.
The Fund anticipates that, due to the tax characterization of cash distributions made by MLPs, a portion of the Fund's distributions to shareholders will consist of tax-advantaged return of capital for U.S. federal income tax purposes. In general, a portion of the distribution will constitute a return of capital to shareholders, rather than a dividend, to the extent such distribution exceeds the Fund's current and accumulated earnings and profits. The portion of any distribution treated as a return of capital will not be subject to tax currently, but will result in a corresponding reduction in a shareholder's basis in Fund shares and in the shareholder's recognizing more gain or less loss (that is, will result in an increase of a shareholder's tax liability) when the shareholder later sells Fund shares. Distributions in excess of a shareholders' adjusted tax basis in its shares are generally treated as capital gains. The Fund's distribution rate will vary based upon the distributions received from underlying investments. The Fund can make no assurance as to what percentage of the distributions paid on the shares will consist of tax-deferred return of capital.
For information about the Fund, please contact your Financial Advisor.
Financial Advisors/Analysts only please contact: (800) 651-2345
Media Relations please contact: (646) 839-5543
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SOURCE Center Coast MLP & Infrastructure Fund