Tortoise Capital reveals shocking asset coverage ratio updates for TYG and TEAF

Tortoise Capital, based in Overland Park, Kansas, disclosed recent financial updates regarding two of its closed-end funds, Tortoise Energy Infrastructure Corp. and Tortoise Sustainable and Social Impact Term Fund. The announcement came on January 2, 2025, and pertained specifically to their unaudited figures as of December 31, 2024. As part of the update, Tortoise Energy Infrastructure Corp. reported total assets approximating $992.7 million with a net asset value amounting to $800.6 million, translating to $46.45 per share. This information highlights Tortoise’s significant presence in the market, reflecting its management of energy-related assets and its effective strategy to position itself in the evolving energy landscape. Furthermore, the Tortoise Sustainable and Social Impact Term Fund reported total assets of about $220.9 million and a net asset value of $188.4 million, which equals $13.96 per share. Additionally, TEAF highlighted an asset coverage ratio of 698% with respect to senior securities representing indebtedness, illustrating the fund’s robust financial health and ability to meet its obligations. Tortoise Capital also emphasized the ongoing updates regarding the fund’s direct investments, pointing to its commitment to transparency and continuous improvement of its investment strategies. The total assets and financial metrics of Tortoise Capital’s funds are critiqued and analyzed periodically, underscoring their importance in assessing fund performance against industry benchmarks. Tortoise Capital’s assets under management, which stand at approximately $9.9 billion as of November 30, 2024, enhance its credibility as a knowledgeable entity in the investment sector, particularly in midstream energy markets that are undergoing transformative changes.