Salient Midstream & MLP Fund focuses on quarterly cash distributions

By Toni Weeks

San Diego, Nov. 10 - Salient Midstream & MLP Fund, a newly organized non-diversified, closed-end management investment company, has registered its common shares in an N-2 filing with the Securities and Exchange Commission.

The fund has initially registered 40,000 shares at $25 each and has granted the underwriters an option to purchase additional shares within 45 days to cover over-allotments.

The fund seeks a high level of total return with an emphasis on making quarterly cash distributions to its shareholders. It aims to achieve its objectives by investing at least 80% of its total assets in securities of midstream companies and master limited partnerships, using an option strategy in an effort to enhance current gains.

The investment adviser will be Houston-based Salient Capital Advisors, LLC.

Sales fees have not yet been announced for the fund.

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