HOUSTON, Aug. 7, 2012 /PRNewswire/ -- Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: [ SMF ]) announced today its net asset value (NAV) as of July 31, 2012 and provided an update on the Fund's current portfolio. The NAV of the Fund appreciated 7.2% for the month.

As of July 31, 2012, the Fund's net assets were $153.0 million and the NAV per share was $24.93, compared with June 30, 2012, when the net assets were $142.7 million and the NAV per share was $23.25. On July 31, 2012, the closing share price of the Fund was $25.74, which represents a 3.2% premium to the NAV.

In 2012, the Fund has paid out cash distributions totaling $0.85 per share including $0.43 in May and $0.42 in February. Since the Fund's IPO in May 2011, the Fund has paid a total of $1.66 in distributions to investors.

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. The Fund was invested as shown in the pie chart below as of July 31, 2012.

(Photo: [ http://photos.prnewswire.com/prnh/20120807/NY53450 ] )

Also as of July 31, 2012, the Fund's 10 largest consolidated holdings were:

Company	Sector	Shares	Amount (in millions)	Percent of Consolidated Gross Assets
Kinder Morgan Management, LLC	MLP Affiliate	243,202	$18.6	8.5%
Enterprise Products Partners, LP*	MLP	271,898	$14.4	6.6%
Enbridge Energy Management, LLC	MLP Affiliate	406,850	$13.0	6.0%
Plains All American Pipeline, LP*	MLP	134,990	$11.9	5.4%
Energy Transfer Equity, LP*	MLP	257,031	$11.0	5.1%
Whiting USA Trust II	Energy Company	474,010	$9.7	4.5%
Kinder Morgan, Inc.	MLP Affiliate	263,750	$9.4	4.3%
Williams Companies, Inc.	MLP Affiliate	290,000	$9.2	4.2%
Navios Maritime Partners, LP	Marine Midstream	539,740	$8.1	3.7%
EL Paso Pipeline Partners, LP*	MLP	228,500	$8.0	3.7%

*Held indirectly through the wholly owned C-Corporation, Salient MLP & Energy Infrastructure Fund, Inc.

The Fund's consolidated unaudited balance sheet as of July 31, 2012, is shown below:

	Salient MLP & Energy Infrastructure Fund
	Consolidated Balance Sheet
	July 31, 2012
	(Unaudited)

	Assets	(in millions)
	Investments¹	$211.0
	Cash and Cash Equivalents	1.4
	Receivable for Investments Sold	3.3
	Hedging and Other Assets	2.4
	Total Assets	218.1
	Liabilities
	Line of Credit Payable²	60.3
	Derivatives – Short positions	0.5
	Other Liabilities	4.3
	Total Liabilities	65.1
	Net Assets	$153.0

The Fund had 6.1 million common shares outstanding as of July 31, 2012.

¹Investments include the gross underlying investments within the Salient MLP & Energy Infrastructure Fund, Inc. (C-Corporation) of $57.7 million.
²The line of credit payable includes the C-Corporation's $14.5M outstanding line as of July 31, 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 amp;; Energy Infrastructure Fund Announces Net Asset Value as of July 31, 2012 and Provides Fund Update

Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of July 31, 2012 and Provides Fund Update