Situation
Tortoise Capital Advisors sought our counsel in the initial public offering of a closed-end fund, Tortoise MLP Fund Inc. Moving quickly to capitalize on a market opportunity, Tortoise used the taxable closed-end fund structure that we worked with it to create in 2003 and closed one of the first IPOs in excess of $1 billion since 2008.
Result
The completed offering resulted in Tortoise Capital solidifying relationships with Wall Street’s largest investment banks and reconfirming the status of Tortoise Capital as a pre-eminent advisor in the growing energy infrastructure sector.