Friday, July 8, 2011

Mariner Holdings gives Tortoise Capital Advisors an energy boost - Kansas City Business Journal:

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will buy a 65 percentr stake inthe Leawood-based company for an undisclosed sum, the companies announced June 3. When completed, probabl y in the third quarter, the deal will put Marinert well on the way to a goal stated in earlyt 2008 ofhaving $5 billion in asset s under management in five Mariner Holdings and executives with Tortoise Capital Advisorx agreed to buy all interests from and . Tortoise managing directors Kevin Birzer, Zachary Hamel, Ken Malvey, Terry Matlack and Davic Schulte will own 35 percengt ofthe company, and four other senior managersd will be eligible to buy a stake in Tortoise through an equity ownership plan.
Tortoise advise s four publicly tradedfunds — (NYSE: (NYSE: TYY), (NYSE: TYN) and (NYSE: TTO). The funds specialize in masterflimited partnerships, or MLPs, in companies involvex in the energy infrastructure industry.

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