NYLI CBRE Global Infrastructure Fund Files Proxy Materials

TL;DR

NYLI CBRE Global Infrastructure Fund filed proxy docs, formerly MainStay. Nothing new, just procedural.

AI Summary

NYLI CBRE Global Infrastructure Megatrends Term Fund filed a DEFA14A on September 16, 2024. This filing is a definitive additional material related to proxy statements. The fund was formerly known as MainStay CBRE Global Infrastructure Megatrends Term Fund until June 30, 2023, and prior to that, MainStay CBRE Global Infrastructure Megatrends Fund until April 2, 2021. The filing is related to the company's proxy solicitation materials.

Why It Matters

This filing provides shareholders with important information regarding the fund's proxy voting process and any related corporate actions, ensuring transparency and shareholder participation.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement update and does not indicate any immediate financial risks or significant changes for the fund.

Key Players & Entities

• NYLI CBRE Global Infrastructure Megatrends Term Fund (company) — Registrant
• MainStay CBRE Global Infrastructure Megatrends Term Fund (company) — Former company name
• MainStay CBRE Global Infrastructure Megatrends Fund (company) — Previous former company name
• 20240916 (date) — Filing date

FAQ

Filing Documents

• d865729ddefa14a.htm (DEFA14A) — 24KB
• g865729dsp11.jpg (GRAPHIC) — 3KB
• g865729dsp13.jpg (GRAPHIC) — 3KB
• g865729dsp2.jpg (GRAPHIC) — 2KB
• g865729g03g01.jpg (GRAPHIC) — 97KB
• 0001193125-24-219288.txt ( ) — 171KB

From the Filing

CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND NYLI CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Rule 14a-12 NYLI CBRE GLOBAL INFRASTRUCTURE MEGATRENDS TERM FUND (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of filing fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: N/A 2) Aggregate number of securities to which transaction applies: N/A 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): N/A 4) Proposed maximum aggregate value of transaction: N/A 5) Total fee paid: N/A Fee paid with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: N/A 2) Form, Schedule or Registration Statement No.: N/A 3) Filing Party: N/A 4) Date Filed: N/A September 16, 2024 Dear Shareholder: This years September 27, 2024 Annual Meeting of Shareholders is critical to determining the future of the NYLI CBRE Global Infrastructure Megatrends Term Fund (the Fund or MEGI). Your vote, no matter the number of shares you own, will have a significant impact on your Funds success. MEGIs Board of Trustees recommends that you vote on the WHITE proxy card today. Vote all WHITE proxy cards you receive from MEGI. Discard any and all GOLD proxy cards you receive from Saba Capital Management, L.P. (Saba). We encourage you to consider the following as you make your decision: MEGIs board has been proactive in efforts to close the discount: Sabas proposed change to the Funds Independent trustee is not warranted: Approved an 15% increase to the Funds monthly distribution. Renamed the Fund with the goal of highlighting limited-term structure designed to benefit long-term shareholders. Initially structured the Fund as a term trust to ensure long term investors receive NAV upon termination of the trust. The Board maintains confidence in its ability and the investment managers ability to deliver attractive total returns and income over the life of the Fund. The Board and Fund management are committed to continued thoughtful actions designed to enhance long-term shareholder value and improving the relationship between the Funds Net Asset Value (NAV) and its market price. The Funds discount to NAV has improved materially from its low and is trading in-line with the peer group average. As infrastructure market conditions have improved demand for Fund shares has increased. The Funds discount has narrowed by 42% from its low of -18.25% on December 28 th , 2022 to -10.53% as of August 30, 2024. 1 1 Source: Morningstar Direct, as of 8/31/2024 Source: Morningstar Direct, as of 8/31/2024. Peer group includes (Tickers): ASGI, BUI, UTF, DPG, TEAF, MFD, UTG Bottom Line The Fund is under attack by Saba. Saba is a New York City based hedge fund with a long and established history of acting in its own self-interest including implementing initiatives that are intended to generate short-term profits to the benefit of Saba and its investors. Adding Sabas nominee could disrupt MEGIs operations, and Sabas nominee may propose a liquidity event that could adversely impact the Fund. The Fund plans to fight vigorously against Sabas nominee and will continue fighting for ALL shareholder. As such, we ask that Saba s Gold proxy cards should be discarded. If you have already signed and returned a gold proxy card, you have the right as a shareholder of the Fund to change your vote before the meeting takes place. You can do this by signing and returning the WHITE proxy card sent to you by the Fund, which will replace the proxy card you previously voted. If you have any questions, please contact our Proxy Solicitor, EQ Fund Solutions, at 800-848- 3374, Monday through Friday between the hours of 9:00 AM and 10:00 PM Eastern Time. Thank you for voting. Sincerely, /s/ Kirk C. Lehneis Kirk C. Lehneis President NYLI CBRE Global Infrastructure Megatrends Term Fund N

View Full Filing

View this DEFA14A filing on SEC EDGAR