Tortoise Capital Advisors, LLC (Tortoise) announced today that the sale of all of its ownership interests to a holding company formed by its five founding Managing Directors and Mariner Holdings, LLC (Mariner) has closed. Tortoise serves as the adviser of Tortoise Energy Infrastructure Corp., Tortoise Energy Capital Corp., Tortoise North American Energy Corp., Tortoise Capital Resources Corp. and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TYG) (NYSE: TYY) (NYSE: TYN) (NYSE: TTO) (NYSE: TPZ), as well as a private fund and certain private accounts. Mariner will own a majority stake in Tortoise. Tortoise Managing Directors Kevin Birzer, Zachary Hamel, Ken Malvey, Terry Matlack and David Schulte will own in the aggregate approximately 35 percent of Tortoise and each has signed an employment commitment. Management of Tortoise, its Investment Committee and its funds will remain unchanged by the close of the transaction. Tortoise has also initiated an equity ownership plan in which initially four additional senior Tortoise employees will purchase equity.

“The Tortoise management team is enthused about teaming up with Mariner to purchase Tortoise Capital Advisors,” said Kevin Birzer, Senior Managing Director of Tortoise Capital Advisors. “We believe the footprint Tortoise has already established in the energy infrastructure sector combined with the new Mariner affiliation will allow us to accelerate the growth of our fund and private account business.”

The transaction helps propel Mariner further into the asset management business, a key pillar of its strategic vision. Mariner plans to accomplish this through additional product offerings, distribution capabilities and an expanded client base. "The Tortoise team brings significant depth, including closed-end fund and separate account development and management, portfolio management, client services and operational support, which will provide a well established platform for continued growth,” said Marty Bicknell, Chairman and CEO of Mariner. “The recent closing of another fund, TPZ, underscores Tortoise’s success at deepening its relationships with the investment banking community and growing its presence as a leading investor in the power and energy infrastructure sector.”

Colchester Partners acted as financial advisor to Tortoise Capital Advisors in this transaction.

About Tortoise Capital Advisors

Tortoise is an investment manager specializing in listed energy infrastructure, such as pipeline and power companies. As of Aug. 31, 2009, Tortoise had approximately $2.3 billion of assets under management in five NYSE-listed investment companies and private accounts. For more information, visit the web site at www.tortoiseadvisors.com.

About Mariner Holdings, LLC

Founded in 2006 by former A. G. Edwards investment professionals and management staff, Mariner is an independent investment firm focused on wealth and asset management. The asset management platform provides institutional investors, foundations and third party managers with high quality core and alternative investment strategies. The wealth management platform offers business owners, executives, and high net worth individuals extensive portfolio management, tax and estate planning, risk management and other services. For more information, visit www.mariner–holdings.com.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Forward-Looking Statement

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although Tortoise Capital Advisors believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.