Company Overview
Tortoise Capital Advisors, LLC was founded in 2002 by an experienced team of investment professionals to provide energy infrastructure MLP investment management services to individual and institutional investors.
Our professionals pioneered and refined a distinct strategy of investing primarily in diverse midstream oil and gas pipeline companies that charge a service fee to transport energy products from production points to end users.
Our MLP investments offer stockholders low commodity risk, a high level of total return with an emphasis on reliable distributions. More on MLPs.
We manage four publicly-traded closed-end funds, two privately held funds and separate accounts. Our four publicly-traded companies are:
- Tortoise Energy Infrastructure Corp. (NYSE: TYG);
- Tortoise Energy Capital Corp. ( NYSE: TYY);
- Tortoise North American Energy Corp. (NYSE: TYN); and
- Tortoise Capital Resources Corp. (NYSE: TTO)
Our Investment Objectives [ top ]
Our "yield, growth and quality" objectives determine every investment decision we make.
We further diversify our investments among issuers, geographies and energy commodities to achieve a stable distribution yield that performs competitively when compared to other business models with similar risk characteristics.
As of Dec. 31, 2008, the managing directors of Tortoise Capital Advisors and Tortoise company directors had approximately $2.8 million invested in Tortoise investment companies.
Company Structure [ top ]
Voting interests in Tortoise Capital Advisors, LLC (Tortoise) are currently owned equally by FCM Tortoise, L.L.C. (FCM) and Kansas City Equity Partners LC (KCEP). FCM and KCEP have no operations and serve as holding companies. On June 2, 2009, senior management of Tortoise entered into a definitive agreement to acquire, along with Mariner Holdings, LLC (Mariner), all of the ownership interests in Tortoise from KCEP, an affiliate of KCEP and FCM. Mariner will purchase a majority stake in Tortoise, with the intention to provide growth capital and resources, and serve as a complementary strategic partner in the asset management business. The transaction is expected to close in the third quarter of 2009 and is subject to customary regulatory approvals and the approval by the stockholders of Tortoise’s funds. For more information please refer to our questions and answers section regarding the agreement with Mariner located at http://www.tortoiseadvisors.com/mariner-agreement.cfm.
Trademark Notice: Any trademarks, logos and service marks ("Marks") displayed on this Web Site are the property of Tortoise Capital Advisors, LLC or other third parties. You are not permitted to use the Marks without prior written consent of Tortoise Capital Advisors or such third party which may own the Marks.
Past Performance: Past performance is no guarantee of future results. You can purchase or sell common shares daily. Like any other stock, share price will fluctuate with the market. Upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment. Due to ongoing market volatility, performance is subject to substantial short-term fluctuations.
You should consider the investment objectives, risks, charges and expenses carefully before investing. For this and other important information, please refer to the closed-end fund prospectuses and read them carefully or call Tortoise Capital Advisors, LLC, the fund adviser, at (866) 362-9331 before investing.
Word about risk: Shares of closed-end funds frequently trade at a market price that is below their net asset value.
Leverage creates risks which may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares; and fluctuations in distribution rates on any preferred shares.