HOUSTON, March 7, 2012 /PRNewswire/ -- Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: [ SMF ]) announced today its net asset value (NAV) as of February 29, 2012, and provided an update on the Fund's current portfolio.

As of February 29, 2012, the Fund's net assets were $159.1 million and the NAV per share was $25.93, compared with December 31, 2011, when the net assets were $156.2 million and the NAV per share was $25.46. The Fund increased its quarterly cash distribution for February 2012 to $0.42, compared with $0.41 in November 2011 and $0.40 in August 2011, totaling $1.23 in distributions paid to investors since the Fund's IPO in May 2011.

On February 29, 2012, the closing share price of the Fund was $25.05, which was trading at a 3.4% discount to the NAV.

The Fund is a non-diversified, closed-end fund that seeks to provide a high level of total return with an emphasis on making quarterly cash distributions to shareholders. As of February 29, 2012, the Fund was invested as shown in the linked chart below:

(Photo: [ http://photos.prnewswire.com/prnh/20120307/NY66286 ] )

Also as of February 29, 2012, the Fund's ten largest consolidated holdings were:

Company	Sector	Shares	Amount (in millions)	Percent of Consolidated Gross Assets
Kinder Morgan Management, LLC	MLP Affiliate	243,773	$19.5	8.9%
Enbridge Energy Management, LLC	MLP Affiliate	498,355	$16.8	7.7%
Enterprise Products Partners, LP*	MLP	285,330	$14.8	6.8%
Energy Transfer Equity, LP*	MLP	257,031	$11.2	5.1%
Teekay Offshore Partners, LP	Marine Midstream	372,613	$10.9	5.0%
Kinder Morgan, Inc.	MLP Affiliate	263,750	$9.3	4.2%
Williams Companies, Inc.	MLP Affiliate	290,000	$8.7	4.0%
EL Paso Pipeline Partners, LP*	MLP	228,500	$8.4	3.8%
CenterPoint Energy, Inc	Energy Company	400,100	$7.8	3.6%
Targa Resources Partners, LP	MLP	161,300	$6.9	3.1%
*Held indirectly through the wholly owned C-Corporation, Salient MLP & Energy Infrastructure Fund, Inc.

The Fund's consolidated unaudited balance sheet as of February 29, 2012, is shown below:

	Salient MLP & Energy Infrastructure Fund
	Consolidated Balance Sheet
	February 29, 2012
	(Unaudited)

	Assets	(in millions)
	Investments (1)	$208.6
	Cash and Cash Equivalents	2.3
	Hedging and Other Assets	8.4
	Total Assets	219.3
	Liabilities
	Line of Credit Payable (2)	55.2
	Written Call Options	1.3
	Other Liabilities	3.7
	Total Liabilities	60.2
	Net Assets	$159.1

The Fund had 6.1 million common shares outstanding as of February 29, 2012.

(1) Investments include the gross underlying investments within the Salient MLP & Energy Infrastructure Fund, Inc.'s (C-Corporation) of $54.6 million.
(2) The line of credit payable includes the C-Corporation's $16.9M outstanding line as of February 29, 2012.

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.

CONTACT:

Chris Moon
JCPR
[ cmoon@jcprinc.com ]
973-850-7304

Salient Capital Advisors, LLC
Investor Relations
[ mlpinfo@salientpartners.com ]
800-809-0525

SOURCE Salient MLP & Energy Infrastructure Fund

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Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of February 29, 2012, and Provides Fund Update

Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of February 29, 2012, and Provides Fund Update