Initial Public Offering

Energy
Initial Public Offering

Summary

Baird served as a co-manager on this offering

About

Duff & Phelps Select Energy MLP Fund Inc. (the “Fund”) (NYSE: DSE) recently completed an initial public offering of 24,250,000 shares of common stock at a price of $20.00 per share, generating gross proceeds of $485.0 million. The Fund intends to invest the net proceeds from the offering in accordance with its investment objective and policies.

Duff & Phelps Select Energy MLP Fund is a newly organized, non-diversified, closed-end management investment company. Virtus Alternative Investment Advisers, Inc., a subsidiary of Virtus Investment Partners, is the Fund’s investment adviser and is responsible for overseeing the Fund’s overall investment strategy and its implementation. Duff & Phelps Investment Management Co., the Fund’s subadviser, will be responsible for the day-to-day portfolio management of the Fund. The Fund's investment objective is to seek a high level of total return resulting from a combination of current tax-deferred distributions and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in master limited partnerships. The Fund is headquartered in Chicago, Illinois.

INVESTORS SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES ASSOCIATED WITH A FUND CAREFULLY BEFORE INVESTING. THIS AND OTHER INFORMATION IS AVAILABLE IN THE PROSPECTUS OR SUMMARY PROSPECTUS, WHICH CAN BE OBTAINED FROM YOUR FINANCIAL ADVISOR. THE PROSPECTUS OR SUMMARY PROSPECTUS SHOULD BE READ CAREFULLY BEFORE INVESTING.

Shares of closed-end funds frequently trade at a discount from their net asset value. An investment in the Fund is not appropriate for all investors and is not designed to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle. Investing in securities of MLPs involve risks that differ from investments in common stock, including among other risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks. Concentration in the energy sector may present more risks than if the Fund were more boradly diversified over numerous sectors of the economy.

For additional information about this transaction, please contact:

Frank Murphy (314) 445-6532
Curtis Goot (314) 445-6540
Gary Placek (414) 765-3611
Energy
Initial Public Offering
Date
June 2014
Company
Duff & Phelps Select Energy MLP Fund
Transaction
M&A
Sectors
Energy
Target Location
North America

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