TEAF to cease operations, merge with Tortoise Energy Infrastructure

The Tortoise Sustainable and Social Impact Term Fund (TEAF) will cease to exist as it merges into the Tortoise Energy Infrastructure Fund. This change may impact investors who have held the fund in their portfolios. It is recommended that investors review their holdings and adjust accordingly.

The Tortoise Sustainable and Social Impact Term Fund (TEAF), listed on the NYSE under the ticker TEAF, has announced that it will cease to exist as it merges into the Tortoise Energy Infrastructure Fund. This move, effective from September 12, 2025, will impact investors who have held the fund in their portfolios.

TEAF, with a market price of $11.76 and a net asset value (NAV) of $13.22 as of September 30, 2025, has been a closed-end fund with a focus on providing a high level of total return with an emphasis on current distributions. The fund, managed by Tortoise Capital Advisors, L.L.C., seeks to provide investors access to a combination of public and direct investments in essential assets that make a positive social, environmental, and economic impact. Key sectors include energy infrastructure, with a significant portion of the fund's holdings in public and private companies involved in energy and renewable energy projects.

The upcoming merger will consolidate the assets and liabilities of TEAF into the Tortoise Energy Infrastructure Fund. This change will likely affect the fund's performance metrics, distribution rates, and overall investment strategy. Investors are advised to review their holdings and consult with their financial advisors to understand the potential impact on their portfolios.

The Tortoise Sustainable and Social Impact Term Fund has a history of delivering attractive total returns, with a 10.65% return since inception as of September 30, 2025. The fund's performance has been influenced by its exposure to essential asset sectors, including energy infrastructure, and its ability to invest in both public and private securities. However, the merger will bring about a significant shift in the fund's structure and investment focus.

Investors should be aware of the potential risks associated with this merger, including changes in the fund's asset allocation, investment strategies, and the possibility of increased volatility. The fund's ability to achieve its investment objectives will depend on the strategies implemented by its new management team.

For more information on the Tortoise Sustainable and Social Impact Term Fund and the upcoming merger, investors can refer to the fund's official website and consult with their financial advisors. It is essential to stay informed about the latest developments and make decisions based on a thorough understanding of the potential impacts.