There’s a new closed-end fund in town! Behringer Harvard Holdings, sponsor to alternative investments, and Prospect Capital Management, an investment advisor, have combined forces to bring the direct investment industry Pathway Energy Infrastructure Fund, Inc.
The fund is focused on energy-related investments, particularly income-oriented securities of private and public companies that are focused on energy as well as energy-related infrastructure and industrial sectors.
Such companies may target exploration, development, production, gathering, transportation, processing, storage, refining, distribution, mining, generation or marketing of natural gas, natural gas liquids, crude oil, refined products, coal, or power.
It will also invest in companies that focus on manufacturing, chemicals, infrastructure, logistics, materials, marketing, and environmental services related to energy infrastructure. The purpose of the fund is to give individual investors access to an energy-focused investment strategy.
This is not the first time Texas-based Behringer Harvard Holdings and New York-based Prospect Capital Management have co-sponsored a joint venture. In 2013, the companies launched Priority Senior Secured Income Fund, a registered investment program focused on senior secured loans or pools of senior secured loans known as collateralized loan obligations (CLOs).
The two companies have a rich history of investing. Prospect Capital currently has approximately $7.2 billion of capital under management, while the Behringer group of companies has invested over $11 billion in assets.