Vedder Price is pleased to announce that members of the Investment Services group represented Tortoise Essential Assets Income Term Fund (NYSE: TEAF), a NYSE listed closed-end investment company, in the initial public offering of its common shares. The company raised capital of approximately $260 million (up to approximately $295 million including the over-allotment option) in a transaction that priced on Tuesday, March 26, 2019.

According to the company’s press release, the fund will “emphasize income-generating investments in social infrastructure, sustainable infrastructure and energy infrastructure. It will provide investors with access to the skill and experience of the Tortoise platform with deep expertise in essential assets and income investing.”

Shareholder Deborah Bielicke Eades led the team from Vedder Price, which also included Shareholder Jacob Tiedt and Associates Adam Goldman and Jake Wiesen.

“Our team was thrilled to be part of such an innovative product offering,” said Ms. Eades. “The capital raised was among the largest in the closed-end space in the last few years and is a testament to Tortoise’s focus on positive social and economic impact in our communities.”

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