Ecofin Sustainable & Social Impact Term Fund: management transactions · United States · SEC (Form 4)

About Ecofin Sustainable & Social Impact Term Fund

ECOFIN SUSTAINABLE & SOCIAL IMPACT TERM FUND (ticker: TEAF) is a U.S.-listed closed-end fund traded on the NYSE. For French-speaking investors, it should be viewed less as an operating company and more as a listed investment vehicle focused on sustainable infrastructure, social infrastructure, and income generation. The fund was launched on March 29, 2019, making it a relatively recent entrant in the U.S. closed-end fund universe. It is now associated with Tortoise Capital following the 2024 rebranding effort that replaced the Ecofin name across the listed fund platform. TEAF’s stated objective is to deliver a high level of total return, with an emphasis on current distributions. Under normal market conditions, the fund invests at least 80% of its total assets in issuers tied to essential assets and infrastructure. Its portfolio framework is deliberately broad within that theme: the fund emphasizes income-producing investments in social infrastructure, sustainable infrastructure, and energy infrastructure. In practical terms, that can include direct investments, directly originated loans, restricted equity placements in listed companies, and, to a limited extent, investments in unlisted companies. That structure gives TEAF more flexibility than a conventional equity income fund and more thematic focus than a diversified multi-sector closed-end fund. From a competitive standpoint, TEAF sits in the intersection of several investor priorities: recurring cash distributions, real-asset exposure, infrastructure-linked cash flows, and an ESG/impact overlay. It competes more directly with specialized infrastructure income funds than with broad market equity funds. Its appeal lies in the combination of listed market access, exposure to essential services, and the possibility of investing across public and private channels within a single vehicle. Like many closed-end funds, it may also use leverage, which can enhance income potential but increases volatility and balance-sheet sensitivity. Geographically, TEAF is a United States vehicle listed on the NYSE, with a predominantly North American opportunity set and some flexibility to invest outside the U.S., including Canada. Recent fund communications in 2025 highlighted ongoing unaudited balance-sheet and asset-coverage updates, as well as a strategic review process and subsequent next steps announced by Tortoise Capital. Those developments matter to investors because they suggest active portfolio and structure management rather than a static buy-and-hold approach. In summary, TEAF is a niche U.S. listed infrastructure-and-impact income fund with a clearly defined sustainable and social-impact mandate, suitable for investors seeking thematic exposure on the NYSE in the United States.