Salient Midstream & MLP Fund

Salient Midstream & MLP Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund's objective is to provide a high level of total return with an emphasis on making quarterly cash distributions to its common shareholders. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of midstream companies and master limited partnerships (MLPs). It invests in equity securities, such as common units, preferred units, subordinated units, general partner interests, common shares, preferred shares, and convertible securities in midstream companies, MLPs and other energy companies. It may invest in companies of any market capitalization range. It may also invest up to but not more than 25% of its total assets in debt securities of energy companies. It may directly invest up to but not more than 25% of its total assets in equity or debt securities of MLPs. Its investment adviser is Salient Capital Advisors, LLC.