SALIENT MLP AND ENERGY INFRASTRUCTURE 
By Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: SMF) announced today its net asset value for October 31, 2011 and increased its dividend by 2.5% sequentially for the quarter ended November 30, 2011.
As of October 31, 2011, the Fund's net assets were $144.3 million and the net asset value per share was $23.53 compared to $136.8 million in net assets and a net asset value per share of $22.32 on September 30, 2011.
The Fund increased its quarterly dividend to $0.41 per share for the quarter ending November 30, 2011, which represents a 2.5% sequential increase over the $0.40 paid in the previous quarter. The increased dividend will be payable on November 22, 2011 to common stockholders of record on November 17, 2011. It is anticipated that a significant portion of this dividend will be treated as a return of capital for tax purposes. The final tax status of the dividend may differ substantially from this preliminary information, and the final determination of such amount will be made in early 2012 when the Fund can determine its earnings and profits for the 2011 fiscal year.
The Fund was invested as shown in the pie chart in Figure 1 as of October 31, 2011.
The Fund's ten largest holdings at October 31, 2011 were:
| Company | Sector | Shares |
Amount |
Percent of | ||||||||
| Kinder Morgan Management, LLC | MLP Affiliate | 265,202 | $17.6 | 8.7% | ||||||||
| Enbridge Energy Management, LLC | MLP Affiliate | 482,215 | $14.9 | 7.4% | ||||||||
| Enterprise Products Partners* | MLP | 243,330 | $10.9 | 5.4% | ||||||||
| Energy Transfer Equity, L.P.* | MLP | 241,360 | $9.2 | 4.6% | ||||||||
| Navios Maritime Partners, L.P. | Marine Midstream | 524,740 | $8.8 | 4.3% | ||||||||
| Teekay Offshore Partners, L.P. | Marine Midstream | 313,110 | $8.3 | 4.1% | ||||||||
| El Paso Pipeline Partners, L.P.* | MLP | 242,600 | $8.1 | 4.0% | ||||||||
| VOC Energy Trust | Energy Company | 361,602 | $8.1 | 4.0% | ||||||||
| Kinder Morgan, Inc. | MLP Affiliate | 263,750 | $7.5 | 3.7% | ||||||||
| Oneok, Inc. | MLP Affiliate | 80,000 | $6.1 | 3.0% | ||||||||
| *Held indirectly through the wholly owned C-Corporation, Salient MLP & Energy Infrastructure, Inc. | ||||||||||||
The Fund's consolidated unaudited balance sheet as of October 31, 2011 is shown below:
| Salient MLP & Energy Infrastructure Fund | ||||||
| Consolidated Balance Sheet | ||||||
| October 31, 2011 | ||||||
| (Unaudited) | ||||||
| Assets | (in millions) | |||||
| Investments1 | $190.2 | |||||
| Cash and Cash Equivalents | 0.8 | |||||
| Receivable for Investments Sold | 3.3 | |||||
| Hedging and Other Assets | 7.9 | |||||
| Total Assets | 202.2 | |||||
| Liabilities | ||||||
| Line of Credit Payable2 | 56.3 | |||||
| Other Liabilities | 1.6 | |||||
| Total Liabilities | 57.9 | |||||
| Net Assets | $144.3 | |||||
The Fund had 6.1 million common shares outstanding as of October 31, 2011 |
1 Investments include the gross underlying investments
within the Salient MLP & Energy Infrastructure |
2 The line of credit payable includes the
C-Corporation's $13 million outstanding line as of October 31, |
Past performance is no guarantee of future results.
Salient MLP & Energy Infrastructure Fund is a Delaware statutory trust registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund's investment objective is to provide a high level of total return with an emphasis on making quarterly cash distributions to shareholders. The Fund seeks to achieve that objective by investing at least 80% of its total assets in securities of MLPs and energy infrastructure companies. There can be no assurance that the Fund will achieve its investment objective.
This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund's present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objective will be attained.
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Salient Capital Advisors, LLC
Investor Relations, 800-809-0525
mlpinfo@salientpartners.com
