J.C. Frey - Managing Partner

J.C. Frey joined Kayne Anderson in 1997, initially as controller of Kayne Anderson Capital Advisors and its former affiliate, Kayne Anderson Rudnick Investment Management. He assumed the additional responsibility of providing research coverage of a group of REIT and finance companies, some of with which he had prior audit experience while at KPMG Peat Marwick. He became a dedicated research analyst for Kayne Anderson Capital Advisors in 1998, responsible for high yield debt, REITs, and MLPs. In 2000, he became co-portfolio manager of the firm's newly launched multi-strategy fund, KACIP. Since 2003, he has managed KAMLP, a dedicated MLP investment partnership, one of the earliest of its kind. Since 2005, he has managed KAMEF, an offshore fund that was among the first to use total return swaps on MLPs.

In 2004, Mr. Frey was instrumental in the creation and initial public offering of Kayne Anderson MLP Investment Company (NYSE: KYN), an MLP-focused closed-end fund which is the largest publicly traded fund of its kind. He is an officer and co-portfolio manager responsible for public investments for KYN, as well as Kayne Anderson Energy Total Return Fund (NYSE: KYE), Kayne Anderson Energy Development Company (NYSE: KED) and Kayne Anderson Midstream/Energy Fund (NYSE: KMF), public funds which he helped create in 2005, 2006 and 2010 respectively.

Including the funds named above and others, Mr. Frey oversees nearly $8 billion in assets consisting of MLPs, energy debt, marine transportation and other energy equities. Several of the funds managed by Mr. Frey were nominated as finalists for the MarHedge Annual US Performance awards in 2005 and 2006, as well as a regular BarclayHedge monthly performance award winner. He has been quoted in numerous publications including Oil & Gas Investor, Workboat Magazine, MarketWatch.com, Money Central.com, Entrepreneur Magazine, and Research Magazine, and contributed a chapter to Hedge Fund of Funds Investing by Joe Nicholas, Chairman and CEO of HFR Group LLC.

Prior to joining Kayne Anderson in 1997, Mr. Frey was an audit manager in KPMG Peat Marwick's financial services group, specializing in banking and finance clients, and loan securitizations. Mr. Frey is a Certified Public Accountant. He earned a B.S. in Accounting from Loyola Marymount University in 1990 and a Master of Taxation from the University of Southern California in 1991.

David LaBonte - Partner, Senior Analyst

Mr. LaBonte is a partner and senior research analyst for the firm's marketable securities activities. Mr. LaBonte is responsible for equity research and analytics of energy-related master limited partnerships, oil and gas royalty trusts, companies engaged in coal production and marine transportation, as well as various other publicly traded companies in the energy and power industries.

Prior to joining Kayne Anderson in 2005, Mr. LaBonte was a managing director in the U.S. Equity Research Division of Citigroup/Smith Barney. He was responsible for providing research coverage of master limited partnerships, the coal industry and other midstream energy companies. Mr. LaBonte was named a top ranked research analyst for stock selection in polls by the Wall Street Journal and Forbes magazine. Mr. LaBonte has been credited for providing "groundbreaking research" of master limited partnerships by Gas Processor's Report, a leading industry publication. His research of master limited partnerships has also been featured in Barron's and Investor's Business Daily as well as Fortune, Individual Investor, and Smart Money magazines. Prior to joining Citigroup/Smith Barney in 1998, Mr. LaBonte was a vice president in the Investment Management Group of Wells Fargo. He was responsible for equity research coverage of U.S. companies in the natural gas pipeline industry.

Mr. LaBonte earned a B.S. in Finance from the California State Polytechnic University, Pomona in 1993. He is a member of the CFA Institute and the New York Society of Security Analysts.

Jody Meraz - Senior Vice President

Mr. Meraz is a senior vice president for Kayne Anderson Capital Advisors. He is responsible for providing analytical support for the energy investments of Kayne Anderson MLP Investment Company (KYN), Kayne Anderson Energy Total Return Fund (KYE), and Kayne Anderson Energy Development Company (KED).

Prior to joining Kayne Anderson in 2005, Mr. Meraz was an analyst in the energy investment banking group at Credit Suisse First Boston, where he focused on securities underwriting transactions and mergers and acquisitions. From 2001 to 2003, Mr. Meraz was in the Merchant Energy group at El Paso Corporation.

Mr. Meraz earned a B.A. in Economics from the University of Texas at Austin in 2001.

Marc Minikes, CFA - Research Analyst

Mr. Minikes is a research analyst for the firm's marketable securities activities. He is responsible for providing research coverage of the electric utility, power generation, and marine transportation industries.

Prior to joining Kayne Anderson in 2006, Mr. Minikes was a member of the electric utility equity research team at Citigroup Investment Research. Between 2002 and 2004 he worked as a research analyst at GE Asset Management where he focused on high-yield securities in the utility, merchant power and pipeline sectors. Prior to that, Mr. Minikes worked as a market risk analyst at RBC Capital Markets where he focused on event driven and convertible arbitrage trading strategies. Mr. Minikes was also a financial analyst at Lehman Brothers where he supported the U.S. convertibles trading desk.

Mr. Minikes earned a B.A. in History from the University of Michigan in 1992, an M.A. in Latin American Studies from the University of California at Los Angeles in 1996 and an M.B.A. in Finance and Economics from the University of Chicago in 2002. Mr. Minikes is a CFA charterholder.

Michael Schimmel - Research Analyst

Mr. Schimmel is a research analyst for the firm's marketable securities activities and is responsible for analysis of convertible and high-yield securities.

Prior to joining Kayne Anderson in 2005, Mr. Schimmel was an analyst/trader at Akanthos Capital Management, LLC, a Los Angeles based hedge fund that specializes in convertible arbitrage and capital structure arbitrage. From 1994 to 1999 and from 2001 to 2003, he worked as a high-yield analyst at Trust Company of the West, where he followed the chemical, paper/packaging, telecommunications tower, waste management and lodging/leisure industries.

Mr. Schimmel earned a B.A. in Economics from Pomona College in 1993 and an M.B.A. from the UCLA Anderson School of Management in 2001.

David Schumacher, CFA - Research Analyst

Mr. Schumacher, CFA is a research analyst for the firm's marketable securities activities and is responsible for high-yield security analysis.

Prior to joining Kayne Anderson in 2007, Mr. Schumacher was a high-yield analyst at Trust Company of the West following the chemical, refining, healthcare, paper/packaging, industrial, and service industries. From 2003 to 2005, he worked as a high-yield analyst at Caywood-Scholl Capital Management, a San Diego based high yield bond manager.

Mr. Schumacher earned a B.A. in Public Policy Analysis and Chemistry from Pomona College in 1994 and an M.B.A. from the UCLA Anderson School of Management in 2003.

Justin Campeau - Research Analyst

Justin Campeau, is a research analyst for the firm's marketable securities activities and is responsible for equity and high yield debt analysis.

Prior to joining the marketable securities group in 2010, Mr. Campeau was an associate in Kayne Anderson's Houston office, where he supported the private equity investing activities of KYN, KYE, KED and KA First Reserve funds.

Mr. Campeau earned a Bachelor of Commerce from McGill University in 2006.

David Dunning - Research Analyst

Mr. Dunning is a research analyst for the firm's marketable securities activities. He is responsible for providing research coverage of the marine transportation and Canadian energy industries.

Prior to joining Kayne Anderson in 2008, Mr. Dunning held internships with John S. Herold, an exploration and production equity research company, Quintana Energy Partners, Quintana Maritime and Neuberger Berman.

Mr. Dunning earned a B.A. in History from the University of Pennsylvania in 2008.

Kevin McCarthy - Managing Partner, Public Funds

Mr. McCarthy is a managing partner for Kayne Anderson Fund Advisors. He is responsible for master limited partnership private equity investments and serves as chairman, president, and chief executive officer of the Kayne Anderson MLP Investment Company (KYN), Kayne Anderson Energy Total Return Fund (KYE), and Kayne Anderson Energy Development Company (KED).

Prior to joining Kayne Anderson in 2004, Mr. McCarthy was most recently global head of energy at UBS Securities LLC. In this role, he had senior responsibility for all of UBS' energy investment banking activities, including direct responsibilities for securities underwriting and mergers and acquisitions in the MLP industry. From 1995 to 2000, Mr. McCarthy led the energy investment banking activities of Dean Witter Reynolds and then PaineWebber Incorporated. He began his investment banking career in 1984.

Mr. McCarthy earned a B.A. in Economics and Geology from Amherst College in 1981 and an M.B.A. in Finance from the Wharton School at the University of Pennsylvania in 1984.

Jim Baker - Partner

Mr. Baker is a partner for Kayne Anderson Capital Advisors and serves as executive vice president of the Kayne Anderson MLP Investment Company (KYN), Kayne Anderson Energy Total Return Fund (KYE), and Kayne Anderson Energy Development Company (KED). He is responsible for providing analytical support in the area of master limited partnerships.

Prior to joining Kayne Anderson in 2004, Mr. Baker was a director in the energy investment banking group at UBS Securities LLC. At UBS, he focused on securities underwriting and mergers and acquisitions in the MLP industry. Prior to joining UBS in 2000, Mr. Baker was an associate in the energy investment banking group at PaineWebber Incorporated.

Mr. Baker earned a B.B.A. in Finance from the University of Texas at Austin in 1995 and an M.B.A. in Finance from Southern Methodist University in 1997.

Ron Logan - Managing Director

Mr. Logan is a managing director for Kayne Anderson Capital Advisors and serves as senior vice president of Kayne Anderson Energy Development Company (KED).

Prior to joining KACALP in 2006, Mr. Logan was an independent consultant to several leading energy firms. From 2003 to 2005, he served as Senior Vice President of Ferrellgas Inc, with responsibility for the firm's supply, wholesale, transportation, storage, and risk management activities. Before joining Ferrellgas, Mr. Logan was employed for six years by Dynegy Midstream Services where he was Vice President of the Louisiana Gulf Coast Region and was also responsible for the company's businesses development activities. Mr. Logan began his career with Chevron Corporation in 1984, where held positions of increasing responsibility in marketing, trading and commercial development through 1997.

Mr. Logan earned a B.S. degree in Chemical Engineering from Texas A&M University in 1983 and an M.B.A. from The University of Chicago in 1994.

Kurt Prohl - Managing Director

Mr. Prohl is a managing director of the firm's mezzanine financing activities. He is responsible for providing analytical support in the area of master limited partnerships.

Prior to joining Kayne Anderson in 2007, Mr. Prohl was a vice president in the energy investment banking group at BMO Capital Markets. At BMO, he focused on securities underwriting and mergers and acquisitions across the energy sector, including the MLP industry. Prior to joining BMO in 2005, Mr. Prohl was a director in the energy investment banking group at UBS Securities LLC and Paine Webber Incorporated, focusing on the MLP industry. He began his finance career with the IBM Credit Corporation in 1989.

Mr. Prohl earned a B.A. in both Business and Political Science from Lafayette College in 1989 and an M.B.A. from the Amos Tuck School at Dartmouth College in 1996.

Terry Hart - Managing Director

Mr. Hart is a managing director for Kayne Anderson Capital Advisors and serves as chief financial officer of the Kayne Anderson MLP Investment Company (KYN), Kayne Anderson Energy Total Return Fund (KYE), and Kayne Anderson Energy Development Company (KED). He is responsible for the oversight of accounting and financial reporting.

Prior to joining Kayne Anderson in 2005, Mr. Hart was most recently a senior vice president and controller at Dynegy, Inc. Prior to that, Mr. Hart served as assistant treasurer and director of structured finance. He began his finance and accounting career in 1992 with Illinova Corporation, which was acquired by Dynegy, Inc. in 2000.

Mr. Hart earned a B.S. in Accounting from Southern Illinois University in 1991 and an M.B.A. from the University of Illinois in 1999.

Jody Meraz - Senior Vice President

Mr. Meraz is a senior vice president for Kayne Anderson Capital Advisors. He is responsible for providing analytical support for the energy investments of Kayne Anderson MLP Investment Company (KYN), Kayne Anderson Energy Total Return Fund (KYE), and Kayne Anderson Energy Development Company (KED).

Prior to joining Kayne Anderson in 2005, Mr. Meraz was an analyst in the energy investment banking group at Credit Suisse First Boston, where he focused on securities underwriting transactions and mergers and acquisitions. From 2001 to 2003, Mr. Meraz was in the Merchant Energy group at El Paso Corporation.

Mr. Meraz earned a B.A. in Economics from the University of Texas at Austin in 2001.

Aaron Terry - Research Analyst

Mr. Terry is a research analyst for Kayne Anderson Capital Advisors. He is responsible for providing analytical support for Kayne Anderson's investments in Canadian Royalty Trusts and other upstream energy companies.

Prior to joining Kayne Anderson in 2011, Mr. Terry was an associate director in the global energy investment banking group at UBS, where he focused on securities underwriting transactions and mergers and acquisitions. From 2008 to 2010, Mr. Terry was in the corporate restructuring group at Alvarez & Marsal, specializing in energy turnarounds. From 2006 to 2008, Mr. Terry was in the investment banking group at Bear Stearns.

Mr. Terry earned his B.B.A. in Accounting and Information Systems from the University of Oklahoma, and his M.B.A. from the University of Texas at Austin in 2006.