Cover Page
Cover Page | 6 Months Ended |
May 31, 2023 | |
Document Information [Line Items] | |
Entity Registrant Name | KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC. |
Document Type | N-CSR |
Amendment Flag | false |
Entity Central Index Key | 0001500096 |
Document Period End Date | May 31, 2023 |
N-2
N-2 | 6 Months Ended |
May 31, 2023 $ / shares shares | |
Cover [Abstract] | |
Entity Central Index Key | 0001500096 |
Amendment Flag | false |
Document Type | N-CSR |
Entity Registrant Name | KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC. |
General Description of Registrant [Abstract] | |
Investment Objectives and Practices [Text Block] | 1. Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund” or “KMF”) is a Maryland corporation and commenced operations on November 24, 2010. The Fund is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non -diversified -end Kayne Anderson Energy Infrastructure Fund, Inc. (“KYN”) and KMF have entered into a definitive agreement to combine the two funds (the “Merger”). The Merger and related transactions are subject to KYN and KMF stockholder approval. Additional information on the Merger is available in a preliminary joint proxy statement/prospectus (Form N -14 |
Risk Factors [Table Text Block] | 4. The Fund’s investments are concentrated in the energy sector. A downturn in one or more industries within the energy sector, material declines in energy -related The Fund may hedge against currency risk resulting from investing in securities valued in non -U At May Category Percent of Energy Companies (1) 100.0 % Equity securities 100.0 % NextGen Companies (1) 53.6 % Securities of PTPs 24.5 % Largest single issuer 9.9 % Restricted securities 6.8 % ____________ (1) For more information about the principal risks of investing in the Fund see Investment Objective, Policies and Risks in the Fund’s most recently filed annual report. |
Share Price | $ / shares | $ 6.78 |
NAV Per Share | $ / shares | $ 8.24 |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Long Term Debt [Table Text Block] | 11. At May The table below sets forth a summary of the issuance, redemption and key terms of each series of Notes outstanding at May Series Principal Principal Principal Principal Unamortized Estimated Fixed Maturity D $ 40,000 $ (40,000) $ $ $ — $ 3.34% 5/1/23 F — — 40,000 40,000 362 39,100 5.18% 3/29/33 H 21,856 — — 21,856 6 22,000 3.72% 8/8/23 I 18,235 — — 18,235 42 17,800 3.82% 8/8/25 $ 80,091 $ 40,000 $ 40,000 $ 80,091 $ 410 $ 78,900 Holders of the Notes are entitled to receive cash interest payments semi -annually As of May The Notes were issued in private placement offerings to institutional investors and are not listed on any exchange or automated quotation system. The Notes contain various covenants related to other indebtedness, liens and limits on the Fund’s overall leverage. Under the 1940 Act and the terms of the Notes, the Fund may not declare dividends or make other distributions on shares of its common stock or make purchases of such shares if, at any time of the declaration, distribution or purchase, asset coverage with respect to senior securities representing indebtedness (including the Notes) would be less than 300%. The Notes are redeemable in certain circumstances at the option of the Fund. The Notes are also subject to a mandatory redemption to the extent needed to satisfy certain requirements if the Fund fails to meet an asset coverage ratio required by law and is not able to cure the coverage deficiency by the applicable deadline. The Notes are unsecured obligations of the Fund and, upon liquidation, dissolution or winding up of the Fund, will rank: (1) senior to all of the Fund’s outstanding preferred shares; (2) senior to all of the Fund’s outstanding common shares; (3) on a parity with any unsecured creditors of the Fund and any unsecured senior securities representing indebtedness of the Fund; and (4) junior to any secured creditors of the Fund. At May |
Long Term Debt, Structuring [Text Block] | The table below sets forth a summary of the issuance, redemption and key terms of each series of Notes outstanding at May Series Principal Principal Principal Principal Unamortized Estimated Fixed Maturity D $ 40,000 $ (40,000) $ $ $ — $ 3.34% 5/1/23 F — — 40,000 40,000 362 39,100 5.18% 3/29/33 H 21,856 — — 21,856 6 22,000 3.72% 8/8/23 I 18,235 — — 18,235 42 17,800 3.82% 8/8/25 $ 80,091 $ 40,000 $ 40,000 $ 80,091 $ 410 $ 78,900 |
Long Term Debt, Dividends and Covenants [Text Block] | Holders of the Notes are entitled to receive cash interest payments semi -annually As of May The Notes were issued in private placement offerings to institutional investors and are not listed on any exchange or automated quotation system. The Notes contain various covenants related to other indebtedness, liens and limits on the Fund’s overall leverage. Under the 1940 Act and the terms of the Notes, the Fund may not declare dividends or make other distributions on shares of its common stock or make purchases of such shares if, at any time of the declaration, distribution or purchase, asset coverage with respect to senior securities representing indebtedness (including the Notes) would be less than 300%. The Notes are redeemable in certain circumstances at the option of the Fund. The Notes are also subject to a mandatory redemption to the extent needed to satisfy certain requirements if the Fund fails to meet an asset coverage ratio required by law and is not able to cure the coverage deficiency by the applicable deadline. The Notes are unsecured obligations of the Fund and, upon liquidation, dissolution or winding up of the Fund, will rank: (1) senior to all of the Fund’s outstanding preferred shares; (2) senior to all of the Fund’s outstanding common shares; (3) on a parity with any unsecured creditors of the Fund and any unsecured senior securities representing indebtedness of the Fund; and (4) junior to any secured creditors of the Fund. At May |
Outstanding Security, Title [Text Block] | Common stock |
Outstanding Security, Authorized [Shares] | shares | 198,340,343 |
Outstanding Security, Held [Shares] | shares | 47,197,462 |
Preferred Stock [Member] | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Capital Stock [Table Text Block] | 12. At May Series Liquidation Unamortized Estimated Rate Mandatory H $ 9,491 $ 55 $ 9,100 4.07% 12/1/24 I 20,000 221 19,900 3-month LIBOR + 175 bps (1) 6/1/26 J 12,000 158 10,700 2.44% 9/1/26 $ 41,491 $ 434 $ 39,700 ____________ (1) Holders of the MRP Shares are entitled to receive cumulative cash dividend payments on the first business day following each quarterly period (February 28, May 31, August 31 and November 30). As of May The dividend rate on the Fund’s MRP Shares can increase further if the credit rating is downgraded below “A” (as determined by the lowest credit rating assigned). Further, the annual dividend rate for all series of MRP Shares will increase by 4.0% if no ratings are maintained, and the annual dividend rate will increase by 5.0% if the Fund fails to make a dividend or certain other payments. The MRP Shares rank senior to all of the Fund’s outstanding common shares and on parity with any other preferred stock. The MRP Shares are redeemable in certain circumstances at the option of the Fund and are also subject to a mandatory redemption if the Fund fails to meet a total leverage (debt and preferred stock) asset coverage ratio of 225%. Under the terms of the MRP Shares, the Fund may not declare dividends or make other distributions on shares of its common stock or make purchases of such shares if, at any time of the declaration, distribution or purchase, asset coverage with respect to total leverage would be less than 225%. The holders of the MRP Shares have one vote per share and will vote together with the holders of common stock as a single class except on matters affecting only the holders of MRP Shares or the holders of common stock. The holders of the MRP Shares, voting separately as a single class, have the right to elect at least two directors of the Fund. At May |
Security Dividends [Text Block] | Under the terms of the MRP Shares, the Fund may not declare dividends or make other distributions on shares of its common stock or make purchases of such shares if, at any time of the declaration, distribution or purchase, asset coverage with respect to total leverage would be less than 225%. |
Security Voting Rights [Text Block] | The holders of the MRP Shares have one vote per share and will vote together with the holders of common stock as a single class except on matters affecting only the holders of MRP Shares or the holders of common stock. The holders of the MRP Shares, voting separately as a single class, have the right to elect at least two directors of the Fund. |
Security Preemptive and Other Rights [Text Block] | The MRP Shares rank senior to all of the Fund’s outstanding common shares and on parity with any other preferred stock. The MRP Shares are redeemable in certain circumstances at the option of the Fund and are also subject to a mandatory redemption if the Fund fails to meet a total leverage (debt and preferred stock) asset coverage ratio of 225%. |
Common Stock [Member] | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Capital Stock [Table Text Block] | 13. At May |
Security Title [Text Block] | common stock |