The combined fund will continue to trade on the NYSE under the ticker TYG.
CHICAGO, IL – Vedder Price is pleased to announce the completion of a suite of mergers that were part of a strategic initiative to restructure the closed-end fund product line of funds managed by Tortoise Capital.
On December 20, 2024, the mergers of Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP), Tortoise Energy Independence Fund, Inc. (NYSE: NDP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with and into a wholly owned subsidiary of Tortoise Power and Energy Infrastructure Fund, a series of Tortoise Capital Series Trust and a newly formed exchange-traded fund, were completed. TTP, NDP and TPZ are closed-end funds that trade on the NYSE. As a result of the merger, each merged fund was converted into an actively managed exchange-traded fund. The combined fund will continue to trade on the NYSE under the ticker TPZ as an exchange-traded fund.
On December 23, 2024, the merger of Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) with and into a wholly owned subsidiary of Tortoise Energy Infrastructure Corporation (NYSE: TYG) was completed. The combined fund will continue to trade on the NYSE under the ticker TYG.
“We are pleased to have guided our long-standing client through all aspects of this important strategic initiative,” said Vedder Price Shareholder Deborah Bielicke Eades.
The Vedder Price team was led by Investment Services Group Shareholders Deborah Bielicke Eades, Jacob Tiedt and Cody Vitello. Additional team members include Adam Goldman, Chris Barrett, Nathaniel Segal, Christina West, Liz Baxter, Devin Eager, Dan Sherlock and Andrew Falevich.
About Vedder Price
Vedder Price is a thriving commercial law firm with nine offices in major global cities including Chicago, New York, Washington, DC, London, San Francisco, Los Angeles, Singapore, Dallas and Miami. The firm offers a unique and sophisticated mix of finance, corporate, labor and employment, and litigation legal services, including market-leading practices in global transportation finance, middle-market finance/M&A, executive compensation, employment class actions, investment services and more. Vedder Price has enduring relationships with marquee organizations, and many of the firm’s clients have been with the firm since its founding in 1952. For more information, visit https://www.vedderprice.com/.
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