NXG NextGen Infrastructure Income Fund
NXG
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Jerry Vane Swank
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 600 North Pearl Street Dallas TX United States of America 75201
- IPO Date
- Sep 26, 2012
- CIK
- 0001506488
- Website
- cushingcef.com
- Similar Companies
- Business
- NXG NextGen Infrastructure Income Fund (NYSE: NXG) is a closed-end management investment company that seeks high total return with an emphasis on current income by investing at least 80% of its net assets, plus borrowings for investment purposes, in a portfolio of equity and debt securities issued by infrastructure companies; these include energy infrastructure companies such as midstream energy, natural gas distribution, and electricity generation infrastructure; industrial infrastructure companies encompassing toll roads, ports, railroads, airports, and water infrastructure; sustainable infrastructure companies covering renewable energy, electric vehicle, hydrogen, and waste infrastructure; and technology and communication infrastructure companies involving data storage, wireline and wireless infrastructure, cloud services, cybersecurity, and data centers. The Fund limits investments in energy master limited partnerships to no more than 25% of its managed assets and employs leverage, with borrowings representing approximately 29.86% of total assets as of December 31, 2024. It is managed by NXG Investment Management, the trade name of Cushing Asset Management, LP, with key personnel including President, CEO, and Chief Investment Officer John Musgrave and Chief Risk Officer Todd Sunderland, CFA. NXG NextGen Infrastructure Income Fund was launched on September 28, 2012, and is headquartered in Dallas, Texas. The Fund trades on the New York Stock Exchange and targets investors seeking exposure to essential, demand-inelastic infrastructure assets across traditional and next-generation sectors, including those vital to modern economies with characteristics like high barriers to entry and lower correlation to broader markets. As of December 31, 2024, the Fund reported net assets of $156.47 million, a net asset value per share of $45.10, a share price of $45.79 trading at a 1.53% premium, approximately 3.5 million shares outstanding, and a recent monthly distribution of $0.54 per share, yielding a distribution rate of 14.15% annualized based on share price; a portion of distributions, anticipated at 100% for the current fiscal year, constitutes return of capital. In recent developments, the Fund conducted a transferable rights offering in 2024-2025, including one commencing June 20, 2024, and expiring July 17, 2024, allowing subscription for up to 867,238 common shares at $37.25 per share (86% of NAV), followed by another announced in July 2025 with a 1-for-3 subscription ratio at 95% of market price to capitalize on investment opportunities. It also announced an at-the-market offering of common shares in January 2025 and declared monthly distributions of $0.54 per share for December 2025 and beyond. Additionally, the Fund experienced Board changes, including the retirement of long-standing Trustee Ronald P. Trout, appointment of CEO John Musgrave as Trustee, and John H. Alban as an Independent Trustee.