NXG Cushing® Midstream Energy Fund and NXG NextGen Infrastructure Income Fund Announce Officer and Portfolio Manager Changes

Cushing® Asset Management, LP, a subsidiary of Swank Capital, has recently made some exciting changes to its leadership team. The company announced that John Musgrave has been appointed as the new President and Chief Executive Officer of Cushing® Asset Management, LP, effective October 9, 2023.

Musgrave brings a wealth of experience to his new role, having served as a portfolio manager at the Investment Adviser since 2007. He has also been the Managing Director and Co-Chief Investment Officer of the Investment Adviser since 2016. With a background in corporate finance and mergers & acquisitions, including in the energy infrastructure sector, Musgrave is well-equipped to lead Cushing® Asset Management, LP into the future.

In addition to his new role at the Investment Adviser, Musgrave has also been appointed as the Chief Executive Officer and President of NXG Cushing® Midstream Energy Fund (NYSE: SRV) and NXG NextGen Infrastructure Income Fund (NYSE: NXG). This demonstrates the trust and confidence that the Board of Trustees of the Funds has in Musgrave’s abilities.

Joining Musgrave as a portfolio manager for both funds is Todd Sunderland, who also serves as the Chief Risk Officer and Chief Operating Officer of the Investment Adviser. Sunderland has been with the Investment Adviser since 2007 and brings a diverse background in engineering and risk analysis to his role.

These changes in leadership will have no impact on the investment approach, strategy, or objectives of either fund. Investors can rest assured that the Funds will continue to operate with the same commitment to excellence and dedication to achieving their investment objectives.

Cushing® Asset Management, LP, headquartered in Dallas, Texas, is an SEC-registered investment adviser that provides active management in markets where inefficiencies exist. As a subsidiary of Swank Capital, the company is well-positioned to leverage its expertise and resources to deliver positive results for its affiliated funds and managed accounts.

With these new appointments, Cushing® Asset Management, LP is poised to continue its success in the investment management industry. The combination of Musgrave’s extensive experience and Sunderland’s diverse skill set will undoubtedly contribute to the Funds’ continued growth and success.

Investors can look forward to a bright future with Cushing® Asset Management, LP at the helm, as the company remains committed to delivering value and achieving its investment objectives.

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