Changes Follow Previous Agreement to Sell Ecofin Advisors
Limited, UK-based affiliate
OVERLAND
PARK, Kan., Sept. 19,
2024 /PRNewswire/ -- Tortoise Capital Advisors,
L.L.C., a fund manager focused on traditional energy and power
infrastructure investing, today announced it will rename the Ecofin
Sustainable and Social Impact Term Fund (NYSE: TEAF) and the Ecofin
Global Water ESG Fund (EBLU) and replace the Ecofin name with
Tortoise. In addition, the EBLU ticker will change to TBLU.
The name changes, approved by each fund board, will take effect
on Sept. 30 in conjunction with the
expected completion of Tortoise Capital's sale of its Ecofin
Advisors Limited business to Redwheel, a UK-based investment
manager.
TEAF, a closed end fund, had total assets, including leverage,
of $229 million as of Aug. 31, 2024. EBLU, an ETF, had $56 million in assets as of Aug. 31, 2024.
About Tortoise Capital
With approximately $8.3 billion in
assets under management as of Aug. 31,
2024, Tortoise Capital's record of investment experience and
research dates back more than 20 years. As an early investor in
midstream energy, Tortoise Capital believes it is well-positioned
to be at the forefront of the global energy evolution that is under
way. Based in Overland Park,
Kansas, Tortoise Capital Advisors, L.L.C. is an
SEC-registered fund manager that invests primarily in publicly
traded companies in the energy and power infrastructure
sectors—from production to transportation to distribution. For more
information, visit www.TortoiseAdvisors.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the funds and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the fund's reports that are filed with
the Securities and Exchange Commission (SEC). You should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Other than as required
by law, the funds and Tortoise Capital Advisors do not assume a
duty to update this forward-looking statement.
Safe Harbor Statement
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.
IMPORTANT INFORMATION
This press release is for informational purposes only and is not
a solicitation of a proxy from any fund shareholder and does not
constitute an offer of any securities for sale. No offer of
securities will be made except pursuant to a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933.
Tortoise Capital Advisors, L.L.C. is the investment adviser to
Ecofin Sustainable and Social Impact Term Fund (TEAF) with Ecofin
Advisors Limited as TEAF's sub-adviser.
TIS Advisors is the adviser to the Ecofin Global Water ESG Fund
and is a registered investment advisor providing
research-driven indices that can be used as a realistic basis
for exchange-traded products and thought leadership in the universe
of essential assets. Its indices are intended to fill a void
in the market and provide benchmarks and investable asset
class universes for use by investment professionals, research
analysts and industry executives to analyze relative
performance as well as to provide a basis for passively
managed exchange-traded products. Exchange Traded Concepts,
LLC serves as sub-adviser to the Fund.
EBLU's investment objective, risks, charges and expenses
must be considered carefully before investing. The summary and
statutory prospectus contains this and other important information
about the fund and may be obtained by calling 844-TR-INDEX
(844-874-6339) or visiting www.tortoiseadvisors.com. Read it
carefully before investing.
Investing involves risk. Principal loss is possible. For TEAF,
investing in specific sectors such as social infrastructure,
sustainable infrastructure and energy infrastructure may involve
greater risk and volatility than less concentrated investments.
Risks include, but are not limited to, risks associated with
commodity price volatility, supply and demand, reserve and
depletion, operating, regulatory and environmental, renewable
energy, gas, water, public infrastructure, and education. For EBLU,
investment in the water infrastructure and management industry may
significantly affect the value of the shares of the fund. Companies
in the water industry are subject to environmental considerations,
taxes, government regulation, price and supply fluctuations,
competition and water conservation influences.
Quasar Distributors, LLC, serves as the distributor for Ecofin
Global Water ESG Fund (EBLU).
Media Contacts:
Margaret Kirch
Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
margaret@newtonparkpr.com
rich@newtonparkpr.com
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SOURCE Tortoise Capital
