LEAWOOD, Kan.--(BUSINESS WIRE)--Corridor Energy, LLC today announced that it has changed its name to Corridor InfraTrust Management, LLC (Corridor). Corridor is an asset management company that specializes in financing the acquisition or development of infrastructure real property assets. Corridor is focused on the acquisition of infrastructure assets that meet all the requirements to qualify as a real estate investment trust. Corridor was formed in 2010 by Tortoise Capital Advisors, L.L.C., Montage Investments, LLC and the Corridor management team.
“Corridor changed its name to more closely align with the underlying investment characteristics of the infrastructure asset class and the real estate investment trust (REIT) financing structure we intend to utilize,” said Corridor Managing Director, Rick Green. “The infrastructure REIT, which we define as an InfraTrust, provides individuals and institutions an additional vehicle to directly invest in this attractive asset class.”
Separately, Tortoise Capital Resources Corp. (NYSE: TTO) today announced that Corridor has been retained as its primary Manager. “We are honored to be Manager and are fully committed to the success of TTO,” said Mr. Green. “We intend to seek acquisitions of infrastructure assets with long lives, subject to contracts that generate stable cash flows, operated by experienced management teams. We believe TTO’s acquisition earlier this year of an interest in the Eastern Interconnect Project transmission line in New Mexico is tangible evidence of the significant opportunities that will be available in the energy infrastructure sector going forward.”
“In our view, the infrastructure asset class is a defensive sector throughout economic cycles, supported by increasing demand for an essential service,” said Tortoise Capital Advisors and Corridor InfraTrust Management Managing Director, David Schulte. “As a result, investors, particularly institutions, have increasingly allocated a portion of their investment portfolios to infrastructure.”
About Corridor InfraTrust Management
Corridor InfraTrust Management, LLC is an asset manager specializing in financing the acquisition or development of real property infrastructure assets. The management team has extensive experience in energy operations, energy portfolio management, and capital markets. Corridor is Manager of Tortoise Capital Resources Corp (NYSE: TTO), and is working to transition TTO to become a REIT. Corridor is an affiliate of Tortoise Capital Advisors, L.L.C. For more information, visit Corridor’s website at www.corridortrust.com.
About Tortoise Capital Resources Corp.
Tortoise Capital Resources Corp. (NYSE: TTO) is an energy infrastructure asset financing company that seeks to provide capital to pipeline, storage and power transmission operators by acquiring or financing the development of real property assets, which will qualify for Real Estate Investment Trust ownership. TTO’s portfolio includes companies and real assets with long-term, stable cash flows, limited commodity price sensitivity, and growth opportunities. Its objective is to provide stockholders with an attractive risk-adjusted distribution, and distribution growth. TTO is externally managed by Corridor InfraTrust Management.
About Tortoise Capital Advisors
Tortoise Capital Advisors is an investment manager specializing in listed energy infrastructure investments. As of Oct. 31, 2011, the adviser had approximately $7.2 billion of assets under management in NYSE-listed closed-end investment companies, an open-end fund and other accounts. For more information, visit www.tortoiseadvisors.com.
About Montage Investments
Montage Investments brings together a unique group of institutional investment managers – each offering a distinct approach to money management that reflects many decades of professional experience and proprietary investment strategies across global asset classes. Currently managing over $8 billion for institutions and high-net worth clients, the firm’s structure allows individual investment managers to retain boutique processes, talent and culture that have proven records of adding value to portfolios and meeting client objectives. For more information, visit www.montageinvestments.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Forward-Looking Statement
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although Corridor InfraTrust Management believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, Corridor InfraTrust Management does not assume a duty to update this forward-looking statement.