0000009015-17-000004.txt : 20170217
0000009015-17-000004.hdr.sgml : 20170217
20170217154452
ACCESSION NUMBER: 0000009015-17-000004
CONFORMED SUBMISSION TYPE: SC 13D
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20170217
DATE AS OF CHANGE: 20170217
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: Duff & Phelps Select Energy MLP Fund Inc.
CENTRAL INDEX KEY: 0001603998
IRS NUMBER: 465230014
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-88708
FILM NUMBER: 17621225
BUSINESS ADDRESS:
STREET 1: 100 PEARL STREET
CITY: HARTFORD
STATE: CT
ZIP: 06103
BUSINESS PHONE: (866) 270-7598
MAIL ADDRESS:
STREET 1: 100 PEARL STREET
CITY: HARTFORD
STATE: CT
ZIP: 06103
FORMER COMPANY:
FORMER CONFORMED NAME: Duff & Phelps Energy MLP Total Return Fund Inc.
DATE OF NAME CHANGE: 20140328
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: MASSACHUSETTS MUTUAL LIFE INSURANCE CO
CENTRAL INDEX KEY: 0000225602
STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000]
IRS NUMBER: 041590850
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D
BUSINESS ADDRESS:
STREET 1: 1295 STATE STREET
CITY: SPRINGFIELD
STATE: MA
ZIP: 01111
BUSINESS PHONE: 4137448411
MAIL ADDRESS:
STREET 1: 1295 STATE STREET
CITY: SPRINGFIELD
STATE: MA
ZIP: 01111
SC 13D
1
duffandphelpsinitial13D.txt
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Duff & Phelps Select Energy MLP Fund Inc.
(NAME OF ISSUER)
Mandatory Redeemable Preferred Shares
(TITLE OF CLASS OF SECURITIES)
26433F3#3
(CUSIP NUMBER)
Steve Katz Donald Griffith
Barings LLC Massachusetts Mutual Life Insurance Company
1500 Main Street, PO Box 15189 1295 State Street
Springfield, MA 01115-5190 Springfield, Massachusetts 01111
(413) 226-1000 (800) 767-1000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 8, 2017
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
(Continued on following pages)
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=================== =================
CUSIP No. 26433F3#3 13D PAGE 2 OF 8 PAGES
=================== =================
================================================================================
1 NAMES OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Massachusetts Mutual Life Insurance Company
04-1590850
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [_]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
----- --------------------------------------------------------------------------
5 CHECK BOX IF THE DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
Not Applicable
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ----- ------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 880,000(1)
EACH ----- ------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
----- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
880,000(1)
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
880,000(1)
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
Not Applicable
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
62.9%(2)
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO, IC
(1) Massachusetts Mutual Life Insurance Company ("MassMutual"), a Massachusetts
corporation, is the direct beneficial owner of 880,000 Mandatory
Redeemable Preferred Shares which are held in one or more advisory accounts.
Barings LLC ("Barings"), a Delaware limited liability company and wholly-owned
indirect subsidiary of MassMutual, acts as investment adviser to these advisory
accounts, and as such may also be deemed to be the beneficial owner of these
shares.
(2) The referenced securities are preferred equity securities which the
Reporting Persons are informed, represent, in the aggregate, 62.85% of the
preferred equity securities of the Issuer. The percentage that appears in row
13 has been rounded up from 62.85% to the nearest tenth of a percent in
accordance with the instruction to Rule 13d-101.
================================================================================
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CUSIP No. 26433F3#3 13D PAGE 3 OF 8 PAGES
=================== =================
================================================================================
1 NAMES OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barings LLC
04-1054788
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [_]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
----- --------------------------------------------------------------------------
5 CHECK BOX IF THE DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
Not Applicable
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ----- ------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 880,000(1)
EACH ----- ------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
----- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
880,000(1)
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
880,000(1)
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
Not Applicable
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
62.9%(2)
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IA
(1) Barings, in its capacity as investment adviser, may be deemed to be the
beneficial owner of 880,000 Mandatory Redeemable Preferred Shares,
which are held in certain advisory accounts owned (directly or indirectly) or
controlled by MassMutual.
(2) The referenced securities are preferred equity securities which the
Reporting Persons are informed, represent, in the aggregate, 62.85% of the
preferred equity securities of the Issuer. The percentage that appears in row
13 has been rounded up from 62.85% to the nearest tenth of a percent in
accordance with the instruction to Rule 13d-101.
================================================================================
=================== =================
CUSIP No. 26433F3#3 13D PAGE 4 OF 8 PAGES
=================== =================
Item 1. Security and Issuer:
This statement relates to the Mandatory Redeemable Preferred Shares of
Duff and Phelps Select Energy MLP Fund Inc. The Issuer's principal
offices are located at 100 Pearl Street, Hartford, CT 06103.
Item 2. Identity and Background:
(a) This statement is filed by the entities listed below, all of whom
together are referred to herein as the "Reporting Persons".
(i) Massachusetts Mutual Life Insurance Company ("MassMutual")
(ii)Barings LLC ("Barings")
(b) MassMutual's principal office is located at 1295 State Street,
Springfield, MA, 01111. The principal office for Barings is
located at 550 Tryon South Street, Suite 3300, Charlotte, NC, 28202.
(c) The principal business of MassMutual is that of a diversified
financial services organization providing financial products and
services that include mutual funds, money management, trust services,
retirement planning products, life insurance, annuities, disability
income insurance, and long-term care insurance. The officers and
directors of MassMutual, who are all citizens of the United States,
are as follows:
Officers:
Roger W. Crandall, Chairman, President and Chief Executive Officer
Eddie Ahmed, Executive Vice President, Chairman and CEO, MassMutual
International LLC
Susan M. Cicco, Senior Vice President, Chief Human Resources Office
M. Timothy Corbett, Executive Vice President and Chief Investment Officer
Michael R. Fanning, Executive Vice President, MassMutual U.S.
Thomas M. Finke, Chairman and Chief Executive Officer of Barings LLC
Pia Flanagan, Vice President, Corporate Secretary and Chief of Staff to
the CEO
William F. Glavin Jr., MM Asset Management Holding
Michael O'Connor, Senior Vice President and Chief Technology & Administrative
Officer
Mark D. Roellig, Executive Vice President and General Counsel
Gareth F. Ross, Senior Vice President and Chief Customer Officer
Arthur P. Steinmetz, Chairman and Chief Executive Officer, OppenheimerFunds
Elizabeth A. Ward, Chief Financial Officer and Chief Actuary
Board of Directors:
Roger W. Crandall
Karen Bechtel
Mark T. Bertolini
Kathleen A. Corbet
James H. DeGraffenreidt, Jr.
Patricia Diaz Dennis
Robert A. Essner
Isabella D. Goren
Raymond W. LeBoeuf
Jeffrey M. Leiden, M.D., Ph.D.
Cathy E. Minehan
Marc F. Racicot
Laura J. Sen
William T. Spitz
H. Todd Stitzer
The principal business of Barings is that of an entrepreneurial
capital management firm focused on creating innovative investment
strategies and solutions for sophisticated investors. The officers and
managers of Barings, who are all citizens of the United States,
are as follows:
Officers:
Thomas M. Finke, Chairman and Chief Executive Officer
Susan A. Moore, Chief Administrative Officer and Managing Director
Christopher A. DeFrancis, Chief Compliance Officer, Deputy Counsel and
Managing Director
Shelden M. Francis, Chief Legal Officer, Secretary and Managing Director
Paul J. Thompson, Chief Financial Officer, Chief Operating Officer and
Managing Director
Russell D. Morrison, President and Managing Director
Managers:
Thomas M. Finke - Chairman
Russell D. Morrison
M. Timothy Corbett
Roger W. Crandall
William F. Glavin Jr.
Elizabeth A. Ward
(d - e) During the last five years, none of the Reporting Persons
nor any of the persons named above has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
or was a party to a civil proceeding of judicial or administrative
body of competent jurisdiction as a result of which any such person
was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with
respect to such laws.
(f) MassMutual is a Massachusetts corporation. Barings is a
Delaware limited liability company.
=================== =================
CUSIP No. 26433F3#3 13D PAGE 5 OF 8 PAGES
=================== =================
Item 3 Source and Amount of Funds or Other Consideration:
On February 8, 2017, MassMutual, through one or more advisory accounts
for which Barings serves as investment adviser, acquired the Mandatory
Redeemable Preferred Shares in the ordinary course of business using
funds that came directly or indirectly from the working capital of
MassMutual.
Item 4 Purpose of Transaction:
All of the Mandatory Redeemable Preferred Shares reported herein were
acquired for investment purposes. The Reporting Persons do not at the
present time have any plans or proposals which would result in any of
the actions specified in clauses (a) through (j) of Item 4 of
Schedule 13D. However, the Reporting Persons retain the right to
modify plans with respect to the transactions described in this
Schedule 13D, to vote, acquire or dispose of securities of the Issuer
and to formulate plans and proposals which could result in the
occurrence of any such events, subject to applicable laws and
regulations.
Item 5 Interest in Securities of the Issuer:
(a) As of February 8, 2017, MassMutual and Barings may each be
deemed to have beneficially own in the aggregate 880,000
Mandatory Redeemable Preferred Shares referenced herein. The
Reporting Persons are informed, such securities represent, in the
aggregate, approximately 62.9% of the preferred equity securities of
the Issuer.
(b) MassMutual has shared power with Barings to vote and dispose of
the 880,000 of Mandatory Redeemable Preferred Shares for which it is
deemed the beneficial owner. Barings has shared power with MassMutual
to vote and dispose of the 880,000 of Mandatory Redeemable Preferred
Shares for which it is deemed the beneficial owner.
(c) Not Applicable.
(d) Not Applicable.
(e) Not Applicable.
=================== =================
CUSIP No. 26433F3#3 13D PAGE 6 OF 8 PAGES
=================== =================
Item 6 Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer:
Not Applicable.
Item 7 Material to be Filed as Exhibits:
Not Applicable.
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CUSIP No. 26433F3#3 13D PAGE 7 OF 8 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 17, 2017
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
By:
---------------------------
Name: Donald Griffith
Title: Vice President
Barings LLC
By:
---------------------------
Name: Melissa LaGrant
Title: Managing Director
=================== =================
CUSIP No. 26433F3#3 13D PAGE 8 OF 8 PAGES
=================== =================
AGREEMENT REGARDING THE JOINT FILING OF
SCHEDULE 13D
The undersigned hereby agree that the statement on Schedule 13D to which
this Agreement is annexed as Exhibit 1 is filed on behalf of each of them in
accordance with the provisions of Rule 13d-1(k) under the Securities Act of
1934, as amended.
Dated: February 17, 2017
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
By:
---------------------------
Name: Donald Griffith
Title: Vice President
Barings LLC
By:
---------------------------
Name: Melissa LaGrant
Title: Managing Director