Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of March 31, 2013 and Provides Fund Update

HOUSTON, April 10, 2013 /PRNewswire/ -- Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: [ SMF ]) announced today its net asset value (NAV) as of March 31, 2013 and provided an update on the Fund's current portfolio.

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As of March 31, 2013, the Fund's net assets were $195.62 million and the NAV per share was $27.77, compared with February 28, 2013, when the net assets were $160.1 million and the NAV per share was $26.07. On March 21, 2013, the Fund issued 900,000 common shares in a secondary stock offering raising $23,823,000 in net proceeds. On April 9, 2013, the full green shoe was exercised for 135,000 common shares bringing the total offering size to $27,396,450 in net proceeds. On March 31, 2013, the closing share price of the Fund was $27.46, which represents a 1.1% 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. The Fund was invested as shown in the pie chart below as of March 31, 2013.

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Also as of March 31, 2013, the Fund's 10 largest consolidated holdings were:

Company	Sector	Shares	Amount (in millions)	Percent of Consolidated Gross Assets
Enterprise Products Partners, LP	MLP	380,398	$22.9	9.4%
Enbridge Energy Management, LLC	MLP Affiliate	635,177	$19.2	7.9%
Plains All American Pipeline, LP	MLP C-Corp	309,080	$17.5	7.1%
Kinder Morgan Management, LLC	MLP Affiliate	175,920	$15.5	6.3%
Williams Companies, Inc.	MLP Affiliate	361,518	$13.5	5.5%
Kinder Morgan Inc.	MLP Affiliate	315,450	$12.2	5.0%
Energy Transfer Equity, LP	MLP C-Corp	193,715	$11.3	4.6%
LinnCo, LLC	MLP Affiliate	285,650	$11.2	4.6%
Magellan Midstream Partners	MLP C-Corp	193,600	$10.3	4.2%
DCP Midstream Partners, LP	MLP	159,800	$7.4	3.0%

The Fund's consolidated unaudited balance sheet as of March 31, 2013, is shown below:

	Salient MLP & Energy Infrastructure Fund
	Consolidated Balance Sheet
	March 31, 2013
	(Unaudited)

	Assets	(in millions)
	Investments¹	$257.3
	Cash and Cash Equivalents	12.3
	Receivable for Investments Sold	0.0
	Hedging and Other Assets	2.4
	Total Assets	272.0
	Liabilities
	Line of Credit Payable²	64.0
	Derivatives – Short positions	0.0
	Other Liabilities	12.4
	Total Liabilities	76.4
	Net Assets	$195.62

The Fund had 7.04 million common shares outstanding as of March 31, 2013.

¹Investments include the gross underlying investments within the Salient MLP & Energy Infrastructure Fund, Inc. (C-Corporation) of $89.4 million.
²The line of credit payable includes the C-Corporation's $19M outstanding line as of March 31, 2013.

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 March 31, 2013 and Provides Fund Update