DALLAS, Dec. 1, 2022
/PRNewswire/ -- The Cushing® MLP & Infrastructure
Total Return Fund (NYSE: SRV) and NXG NextGen Infrastructure Income
Fund (NYSE: NXG), each a closed-end management investment company
(the "Funds," and each a "Fund"), announced that effective
November 30, 2022, John H. Alban, Chief Executive Officer and
President of the Funds, retired from Cushing® Asset Management, LP, the
Funds' investment adviser (the "Investment Adviser") and from his
position with the Funds. Mr. Mark
Rhodes, Chief Executive Officer of the Investment Adviser,
has been appointed to serve as Chief Executive Officer and
President of the Funds.
Before joining the Investment Adviser in 2022, Mr. Rhodes
previously was the Founder and Principal of Focal Point Consulting
Practice from 2020-2022, Managing Director of Bank of America
Merrill Lynch from 2015-2021 and Regional Managing Director of J.P.
Morgan from 2008-2015.
Jerry V. Swank, Founder of the
Investment Adviser and Chair of the Board of Trustees of the Funds,
and Brian R. Bruce, Lead Independent
Trustee of the Funds said, "On behalf of the Board of Trustees, we
want to thank John Alban for his
many years of leadership and service to the Funds."
Additional Information
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
There can be no assurance that the Funds will achieve their
investment objectives. Investments in the Funds involve operating
expenses and fees. The net asset value of the Funds will fluctuate
with the value of the underlying securities. It is important to
note that closed-end funds trade on their market value, not net
asset value, and closed-end funds often trade at a discount to
their net asset value.
ABOUT CUSHING® ASSET MANAGEMENT, LP
Cushing®, a
subsidiary of Swank Capital, is an SEC-registered investment
adviser headquartered in Dallas,
Texas. Cushing serves as
investment adviser to affiliated funds and managed accounts
providing active management in markets where inefficiencies
exist.
Contact:
Blake
Nelson
Cushing® Asset
Management, LP
214-692-6334
www.cushingasset.com
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SOURCE Cushing® Asset Management, LP