Tortoise Capital gathers $83M for oil and gas - Kansas City Business Journal:

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In a release Monday, Tortoise Capital Advisorsz said that it has equityof $82.9 million before placement agents' fees and expenses and that additional expected leveraged will give it more than $100 million in availabl e capital for Tortoise Gas and Oil. Tortoise Capital Advisors expects to have the additional capital in six to nine spokeswoman Pam Kearneysaid Tuesday. "We formed Tortoise Gas and Oil primarily to respond to the growing need by privatr andpublic U.S. energy production partnerships for timely and flexible direct placement financing to fund internall growth projects and David Schulte, managing director of Tortoise Capitalo Advisors, said in the release.
"We intend to invesr directly in privately held companiezs and publicly traded mastee limited partnerships operating primarily in the upstream and to a lesser extent themidstrean segment, of the energy sector." The upstreajm segment of the energy sector includes companies that producw crude oil, natural gas and coal from proven reserves, Tortoisw Capital said. Tortoise Capital Advisors focuses on capital marketss for master limited partnershipinvestment closed-end funds and separately managed accounts focused on MLPs in the energyh sector. It is the advisere to (NYSE: TYG), (NYSE: TYY) , TYN) and (NYSE: TTO).
Tortoise Capitaol Advisors has morethan $3 billion of energ investment assets under management.