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Kayne Anderson MLP Investment Company: Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and A

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^{Published in Business and Finance on Wednesday, April 1st 2009 at 17:15 GMT, Last Modified on 2009-04-01 17:16:55 by Market Wire}  

HOUSTON, TX--(Marketwire - April 1, 2009) - Kayne Anderson MLP Investment Company (the "Company") (NYSE: [ KYN ]) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the "1940 Act") as of March 31, 2009.

As of March 31, 2009, the Company's net assets were $657 million and its net asset value per share was $14.75. As of March 31, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 341% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 273%.

 Kayne Anderson MLP Investment Company Balance Sheet March 31, 2009 (Unaudited) (in millions) ------------- Investments $ 923.7 Repurchase agreements and cash 11.1 Deposits 21.6 Net deferred tax asset(1) 86.2 Accrued income 0.8 Receivable for securities sold 5.4 Other assets 2.6 ------------- Total assets 1,051.4 Short-term borrowings - Senior notes 304.0 Preferred stock 75.0 ------------- Total leverage 379.0 ------------- Payable for securities purchased 7.2 Other liabilities 8.4 ------------- Total liabilities 15.6 Net assets $ 656.8 ------------- 44.5 million common shares currently outstanding (1) The Company had no valuation allowance at March 31, 2009 

Long-term investments were comprised of Midstream MLPs (62%), General Partner MLPs (12%), MLP Affiliates (10%), Propane MLPs (7%), Coal MLPs (3%), Upstream MLPs (3%), and Shipping and Other MLPs (3%).

The Company's ten largest holdings by issuer at March 31, 2009 were:

 Percent of Units / Par ($) Amount Long-Term (in thousands) ($ millions) Investments --------------- --------------- -------------- 1. Plains All American Pipeline, L.P. (Midstream MLP) 2,876 105.7 11.4% 2. Enterprise Products Partners L.P. (Midstream MLP) 3,721 82.8 9.0% 3. Kinder Morgan Management, LLC (MLP Affiliate) 1,935 78.9 8.5% 4. Energy Transfer Partners, L.P. (Midstream MLP) 2,073 76.5 8.3% 5. Inergy, L.P. (Propane MLP) 3,085 67.6 7.3% 6. Magellan Midstream Holdings, L.P. (General Partner MLP) 3,034 53.1 5.7% 7. Copano Energy Partners, L.L.C. (Midstream MLP) 3,453 46.0 5.0% 8. Enbridge Energy Partners L.P. (Midstream MLP) 1,337 40.0 4.3% 9. MarkWest Energy Partners, L.P. (Midstream MLP) 2,326 / $ 4,295 30.0 3.2% 10. Energy Transfer Equity, L.P. (General Partner MLP) 1,402 29.6 3.2% 

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates, and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: 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 results to differ from the Company's historical experience and its 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; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.