World News: 14:00 GMT Friday 11th January 2019. [Kayne Anderson Fund Advisors, LLC via Globe Newswire via SPi World News]
HOUSTON, Jan. 11, 2019 (GLOBE NEWSWIRE) -- KA Fund Advisors, LLC (“Kayne Anderson”), which serves as the adviser to Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) and Kayne Anderson Midstream/Energy Fund (NYSE: KMF), announced today that Kevin McCarthy plans to step down as CEO of the closed-end funds in June 2019 and as Chairman of the Board in June 2020. The Board of Directors of each of KYN and KMF intends to elect Jim Baker as CEO of each entity effective July 1, 2019.
“I am so pleased to have served the shareholders of KYN and KMF over the past 15 years and I have complete confidence in Jim’s ability to successfully lead the companies in the future. I have worked with Jim for almost 22 years and know this will be a seamless transition, as Jim has an expert level of understanding and knowledge of our sector and outstanding leadership capabilities,” said Kevin McCarthy.
“On behalf of the entire management team at Kayne Anderson, I want to thank Kevin for his contributions to growing the firm’s energy and infrastructure marketable securities business over the last 15 years,” said Michael Levitt, CEO of Kayne Anderson Capital Advisors, L.P. (“KACALP”). “I am also pleased to announce that Kevin has agreed to continue to be part of the leadership of KACALP by serving as Vice Chairman and joining me on the Executive Committee. We are all excited about the promotion of Jim Baker to CEO of the closed-end funds, as Jim represents an excellent example of the outstanding next generation of leadership at Kayne Anderson.”
Jim Baker currently is the President of KYN and KMF and serves on the Board of Directors. Mr. Baker has been at Kayne Anderson for the last fifteen years and is a Partner in the energy and infrastructure marketable securities group. Mr. McCarthy and J.C. Frey are currently co-managing partners of this group and Mr. Baker will succeed Mr. McCarthy in that role beginning in July 2019.
“I want to thank Kevin for his leadership over the last fifteen years. I am very excited about the opportunity and committed to continuing our success as one of the leading energy infrastructure asset managers,” said Jim Baker.
KA Fund Advisors, LLC877-657-3863
Globe Newswire: 14:00 GMT Friday 11th January 2019
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