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NXG NextGen Infrastructure Income Fund
NXG NextGen Infrastructure Income Fund is a closed-end vehicle investing across midstream energy, utilities, and renewable infrastructure for monthly...
NXG NextGen Infrastructure Income Fund
The NXG NextGen Infrastructure Income Fund operates as a publicly registered, closed-end management investment company listed on the New York Stock Exchange. The fund is advised by Cushing Asset Management, LP, a specialized investment manager with a multi-decade history in energy infrastructure and master limited partnerships (MLPs). NXG NextGen was designed to provide monthly income to shareholders by assembling a portfolio of equity and debt securities issued by companies that own and operate infrastructure assets — pipelines, storage terminals, gathering and processing systems, electric transmission, renewable generation, and water utilities. The fund's portfolio typically spans midstream energy infrastructure, regulated electric and gas utilities, renewable power generation, and communications infrastructure. Holdings have historically included large-cap MLPs like Enterprise Products Partners and Energy Transfer, major renewables developers such as NextEra Energy Partners, and utility companies with stable rate bases across the United States and Canada. The vehicle can invest in both common equity and fixed-income securities, and it may use modest leverage to enhance distributable income. The strategy favors assets with long-lived, fee-based or regulated revenue models that generate predictable cash flows. NXG NextGen is managed by a team of portfolio managers and research analysts at Cushing Asset Management in Dallas, Texas. The firm specializes in real asset investments and manages multiple closed-end funds, open-end mutual funds, and separately managed accounts. The closed-end structure allows the fund to remain fully invested without the pressures of shareholder redemptions, though it also means shares can trade at a persistent discount to net asset value — a structural feature that has historically defined the vehicle's trading dynamics. The fund stands out for its dedicated mandate to combine traditional fossil-fuel infrastructure with NextGen renewable and sustainable infrastructure within a single income-oriented wrapper. Unlike a pure-play renewables fund or a conventional energy income trust, NXG NextGen blends old-economy cash flows with exposure to the energy transition, reflecting a structural bet that midstream assets will continue to finance and enable the buildout of cleaner generation.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Sector focus
Frequently asked questions
What is the fund's investment mandate and how does it generate income?
NXG NextGen Infrastructure Income Fund invests in equity and debt securities of infrastructure companies, primarily in the energy, utility, and renewable sectors. The fund generates income through dividends, distributions from MLPs, and interest payments from fixed-income holdings. It targets a portfolio of assets with contracted or regulated revenue streams — pipelines, transmission lines, renewable projects with power purchase agreements — and distributes income to shareholders on a monthly basis. The fund may use leverage to amplify distributable cash flow, which also increases risk.
Who manages the NXG NextGen Infrastructure Income Fund?
The fund is advised by Cushing Asset Management, LP, a Dallas-based investment firm founded in 2003 that specializes in energy, infrastructure, and real asset strategies. Cushing manages multiple publicly traded closed-end funds, open-end mutual funds, and private accounts. The firm's senior portfolio managers and research team make investment decisions for the fund, drawing on decades of sector-specific experience in MLPs, midstream energy, and renewable infrastructure.
What types of infrastructure assets does the fund own?
The fund holds securities issued by companies that own and operate physical infrastructure assets across several categories: midstream energy (pipelines, storage terminals, processing plants), regulated electric and gas utilities, renewable power generation (wind, solar, hydro), and communication infrastructure. Holdings have historically included major MLPs, publicly traded renewable yieldcos, and utility holding companies with geographically diverse rate bases in the U.S. and Canada.
How does the closed-end fund structure affect investors?
As a closed-end fund, NXG NextGen issues a fixed number of shares that trade on the New York Stock Exchange. This structure means the fund does not face shareholder redemptions and can remain fully invested during market downturns, maintaining income distributions. However, shares often trade at a discount or premium to the fund's net asset value (NAV). Investors may buy shares below the underlying portfolio value, but they also carry liquidity risk and the discount can widen during periods of sector stress.
What is the fund's strategy regarding traditional energy versus renewable infrastructure?
NXG NextGen explicitly bridges conventional energy infrastructure and next-generation renewable assets within one portfolio. The fund maintains exposure to midstream oil and gas infrastructure — which generates current income from long-term, fee-based contracts — while also investing in renewable developers and operators. This dual mandate reflects a structural view that cash flows from legacy energy assets can underwrite the energy transition while the renewables side provides growth exposure.
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