Tortoise Energy Capital Corporation (NYSE:TYY), a closed-end management investment company (the "Company"), announced today that the Securities and Exchange Commission has declared effective the Company's registration statement for an initial public offering of 14,000,000 shares of common stock at $25 per share, representing aggregate proceeds of $350 million before fees and expenses of the transaction. The underwriters have been granted an option to purchase up to 2,100,000 additional common units to cover over-allotments, if any.

Lehman Brothers and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers, and, together with Wachovia Capital Markets, LLC, acted as joint lead manager for the offering.

INFO SOURCES

Regulatory Filings [SEC]; Tortoise Energy Capital Corporation (NYSE:TYY)

FIRMS

Tortoise Energy Capital Corporation (the “Company”) is a newly organized, non-diversified, closed-end management investment company. The Company’s investment objective is to obtain a high level of total return with an emphasis on current cash distributions paid to stockholders. For purposes of the Company’s investment objective, total return includes capital appreciation of, and all distributions received from, securities in which the Company will invest regardless of the tax character of the distributions. The Company will seek to provide its stockholders with an efficient vehicle to invest in a portfolio consisting primarily of master limited partnerships ("MLPs") and their affiliates in the energy infrastructure sector. Companies (including MLPs) in the energy infrastructure sector engage in the business of gathering, transporting, processing, storing, distributing or marketing natural gas, natural gas liquids, coal, crude oil, refined petroleum products or other natural resources, or exploring, developing, managing or producing such commodities. Similar to the tax characterization of cash distributions made by MLPs to their unit holders, the Company believes that a relatively high portion of its distributions to stockholders may be treated as return of capital. Tortoise Capital Advisors, LLC, a Delaware limited liability company (the "Advisor"), will serve as the Company’s investment adviser. The principal business address of the Advisor is 10801 Mastin Boulevard, Suite 222, Overland Park, Kansas 66210.

LINKED TO

Fountain Capital Management, L.L.C.; Kansas City Equity Partners LC