Dallas-based closed-end management investment companies NXG Cushing Midstream Energy Fund and NXG NextGen Infrastructure Income Fund announced that John Musgrave has been appointed president and chief executive officer of Cushing Asset Management LP, the funds’ investment adviser, as well the funds themselves.
The board of trustees of the funds also appointed Musgrave to serve as chief executive officer and president of the funds.
Musgrave has been a portfolio manager of the investment adviser since 2007 and has served as managing director and co-chief investment officer of the Cushing Asset Management since 2016.
Cushing Asset Management, a subsidiary of Swank Capital, is an SEC-registered investment adviser based in Dallas. It serves as investment adviser to affiliated funds and managed accounts providing active management in markets where inefficiencies exist.
Before joining Cushing Asset Management, Musgrave worked in Citigroup’s investment banking division where he focused on corporate finance and mergers & acquisitions in a wide range of industries, including energy infrastructure companies.
He also worked as an analyst for UBS Investment Bank’s Global Energy Group.
Musgrave has served as portfolio manager for SRV since 2020 and, effective immediately, has also been appointed as the portfolio manager for NXG.
Also serving as portfolio manager for each Fund is Todd Sunderland, who is chief risk officer and chief operating officer of the investment adviser. Sunderland joined Cushing Asset Management in 2007. Before that, he was portfolio analyst at Spinnerhawk Capital Management. Previously, he was programmer and risk analyst for Hunt Financial Ventures.
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