Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Kayne Anderson MLP Investment Company
Baird served as a co-manager in this offering
Kayne Anderson MLP Investment Company (NYSE: KYN) (“KYN” or the “Company”) recently completed a follow-on offering of 7,500,000 shares of its common stock at a price of $31.51 per share. The offering generated approximately $236.3 million of gross proceeds. The Company intends to use the net proceeds from the offering to make additional portfolio investments that are consistent with the Company’s investment objective and policies and for general corporate purposes.
KYN is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates, and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal.