Four Wood Capital Partners Successfully Launches Miller/Howard High Income Equity Fund (“HIE”) Initial Public Offering

26 Nov Four Wood Capital Partners Successfully Launches Miller/Howard High Income Equity Fund (“HIE”) Initial Public Offering

Four Wood Capital Partners LLC (“FWCP”) today announced that the firm successfully launched a new closed-end fund, Miller/Howard High Income Equity Fund (the “Fund”), which has priced its initial public offering and began trading on the New York Stock Exchange on November 25th, 2014 under the symbol “HIE.” FWCP served as Strategic Advisor and Distribution Manager on this transaction.

The Fund raised $245 million in its common share offering, excluding any exercise of the underwriters’ option to purchase additional shares. If the underwriters exercise that option in full, which may or may not occur, the Fund will have raised approximately $288 million.

“In the current environment, we believe that an actively managed portfolio of high yield, high quality equities with strong growth of earnings should continue to deliver attractive performance. Miller/Howard’s highly successful approach to low-volatility, quality yield investing is a simple and time-tested formula which has delivered consistent results for more than 25 years. By owning companies with stable business models, strong management teams, repeatable results, outstanding yields and the power of compounding dividends, Miller/Howard has produced high and consistent income for clients with less price risk than their peers. As such, we strongly believe in our partnership with Miller/Howard Investments, a premier institutional manager in the yield equities space, and their abilities as the Fund’s adviser,” said Steven A. Baffico, Managing Partner & CEO of Four Wood Capital Partners LLC. Miller/Howard High Income Equity Fund (“the Fund”) is a newly organized, diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of current income with a secondary objective of capital appreciation. The Fund will generally invest 80% of its total assets in dividend or distribution-paying equities of US companies and non-US Companies traded in US exchanges. Lead Managers of the underwriting syndicate were Wells Fargo Securities, Raymond James and Ameriprise Financial. Investors should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The investment return, price, yields, market value and net asset value (NAV) of a fund’s shares will fluctuate with market conditions. Closed-end funds frequently trade at a discount to their NAV, which may increase an investor’s risk of loss. At the time of sale, your shares may have a market price that Four Wood Capital Partners, LLC – 100 Wall Street, 11th Floor, New York, NY 10005 is above or below NAV, and may be worth more or less than your original investment. There is no assurance that the Fund will meet its investment objective. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle. Investors should carefully review and consider the Fund’s investment objective, risk, charges and expenses before investing. About Four Wood Capital Partners LLC Four Wood Capital Partners LLC (“FWCP”) is a premier boutique investment banking, advisory services and asset management business. We are acknowledged industry experts in yield-oriented investment solutions across traditional and alternative asset classes, offering a turnkey assembly, distribution and administration platform for those seeking access to the permanent capital and registered fund space. Since inception, FWCP and its subsidiaries have successfully raised more than $2 billion in yield-equity IPO transactions and related registered fund sales. With core competencies across origination and investment banking, investment advisory and distribution services, FWCP serves both institutions and individuals. Founded in 2012, FWCP, its subsidiaries and affiliates have assets under management, supervision and/or servicing of approximately $1.25 billion as of November 25th, 2014. About Miller/Howard Investments Inc. Miller/Howard is an independent, research-driven investment boutique focused on generating sustainable income by investing in equities. The firm evaluates companies across all sectors for financial strength and their ability to consistently generate and raise dividends. Common themes of Miller/Howard strategies are typically to seek higher-than-average yield, higher-than-average financial strength of issuer, and higher-than-average expected growth of dividends. The firm is 100% employee owned. Miller/Howard has focused on income-producing equities since 1991 and manages over $8.5 billion in several core dividend-focused strategies as of September 30th, 2014.