H. Kevin Birzer, CFA, CPA, Chairman of the Board
HKBirzer@tortoiseadvisors.com

Mr. Birzer, Senior Managing Director, is a co-founder and has been at TCA since 2002. He has 28 years of investment experience, and began his career in 1981 at KPMG Peat Marwick. His subsequent experience includes three years working as a Vice President for F. Martin Koenig & Co., focusing on equity and option investments, and three years at Drexel Burnham Lambert, where he was a Vice President in the Corporate Finance Department. In 1990, Mr. Birzer co-founded Fountain Capital Management, a high yield bond management firm. Mr. Birzer graduated with a Bachelor of Business Administration degree from the University of Notre Dame and holds a Master of Business Administration degree from New York University. He earned his CFA designation in 1988.

Conrad S. Ciccotello, Director

Conrad S. Ciccotello serves as an independent director and audit committee chair for the Tortoise Capital Advisors Funds. Dr. Ciccotello is an Associate Professor and Director of Graduate Personal Financial Planning Programs at Georgia State University. As one of the nation’s top scholars in financial services, Professor Ciccotello currently serves as a Research Fellow in the TIAA-CREF Institute. His research on financial services has been entered into the Congressional Record and cited in the Federal Register. Dr. Ciccotello has provided testimony to the Georgia Senate on investment policy and has served as an investment consultant to the University System of Georgia. From 2001-2007, he was Editor of Financial Services Review, the premier academic journal dedicated to the study of personal financial planning. Dr. Ciccotello’s 40 published articles (see below) include several papers on master limited partnerships (MLPs), the subject of his doctoral dissertation at the Pennsylvania State University.

• Matching Organizational Structure with Firm Attributes: A Study of Master Limited Partnerships
• Contracts between managers and investors: a study of master limited partnership agreements
• The Energy MLP Goes Institutional: Implications for Strategy and Governance

John R. Graham, Director

John Graham serves as an independent director and nominating and governance committee chair for the Tortoise Capital Advisors Funds. Dr. Graham serves as Executive-in-Residence and Professor of Finance in the College of Business at Kansas State University on a half-time basis. He is also Chairman and CEO of Graham Capital Management, Inc. (GCM), a financial services company which arranges financing, makes and manages public equity, private equity and real estate investments. Dr. Graham has over 40 years of financial and investment management experience, including 21 years as CEO of Kansas Farm Bureau Financial Services and seven affiliated companies including the Farm Bureau Insurance Companies and FB Capital Management, a registered investment advisor. His academic career included over 30 professional papers and publications including a co-authored book, Keeping What’s Yours: Estate Planning after Tax Reform. Dr. Graham currently serves on the Boards and investment committees of several public and private organizations.

Charles E Heath, Director

Charles E. Heath serves as an independent director and compliance committee chair for the Tortoise Capital Advisors Funds. Mr. Heath was the Chief Investment Officer for Employers Reinsurance Corporation (ERC), retiring in 1999. ERC was owned by General Electric Co. It was a worldwide business with a $25 billion investment portfolio. He also served on ERC’s Board of Directors. Mr. Heath joined ERC in 1971 and was the CIO from 1989-1999. Mr. Heath was a past President of the Kansas City Society of Financial Analysts and attained the Chartered Financial Analyst (CFA) designation in 1974. He is a graduate of the University of Kansas, receiving the MBA degree in 1966. In retirement, Mr. Heath serves on a variety of Boards including the University of Kansas Endowment Association, Baker University, and the Lawrence, KS Memorial Hospital.