Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
First Trust MLP and Energy Income Fund
Initial Public Offering
Baird served as a co-manager in this offering
First Trust MLP and Energy Income Fund (NYSE: FEI) (the “Fund”) recently completed an initial public offering of 41,500,000 shares of its common stock at a price of $20.00 per share, generating gross proceeds of $830.0 million. The Fund intends to invest the net proceeds from this offering in accordance with the Fund’s investment objective and policies.
The Fund is a newly organized, non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high total return with an emphasis on current distributions paid to common shareholders. The Fund seeks to achieve its objective by investing primarily in MLPs and MLP-related entities in the energy sector and energy utilities industries.