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Tortoise Capital Announces Shareholder Approval for Merger of Closed-End Funds TYG and TEAF
ByAinvest
Thursday, Oct 16, 2025 4:09 pm ET1min read
announced shareholder approval for the merger of Tortoise Sustainable and Social Impact Term Fund (TEAF) into Tortoise Energy Infrastructure Corp. (TYG), with TYG as the remaining company. The combined fund will offer investors a more efficient and scaled vehicle for accessing high-quality energy and power infrastructure opportunities. Distributions for TYG will increase 30% subject to completion of the merger, which is expected to become effective before the market opens on November 10, 2025. The merger marks the final phase of Tortoise Capital's comprehensive closed-end fund reorganization.
Tortoise Capital Advisors, L.L.C. has received shareholder approval for the merger of Tortoise Sustainable and Social Impact Term Fund (TEAF) into Tortoise Energy Infrastructure Corp. (TYG), with TYG as the remaining company. The merger is expected to become effective before the market opens on November 10, 2025, marking the final phase of Tortoise Capital's comprehensive closed-end fund reorganization. The combined fund will offer investors a more efficient and scaled vehicle for accessing high-quality energy and power infrastructure opportunities.
The merger, previously approved by the funds' board of directors, will result in a 30% increase in distributions for TYG, subject to the completion of the merger. This strategic move aims to simplify Tortoise Capital's product suite and enhance efficiency in energy infrastructure investing. As of September 30, 2025, the combined total assets under management of TYG and TEAF are approximately $1.269 billion.
Tortoise Capital Advisors, L.L.C., with approximately $9.2 billion in assets under management as of September 30, 2025, is an SEC-registered investment adviser that specializes in energy and power infrastructure sectors. The company's investment strategy and objective remain focused on delivering high-quality energy infrastructure opportunities to shareholders.
For more information about Tortoise Capital, visit www.tortoisecapital.com.
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