Company: SRV
Filing Date: 2025-03-18
Form Type: CORRESP
Source: 0001398344-25-005716
Chunk: 6

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-03-18
Form: CORRESP
Chunk 6
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 have determined to
take a more conservative approach, and in acknowledgment that NXG Cushing may have a significant influence over the management or
policies of the Adviser upon acquisition by NXG Cushing of a 25% economic interest in the Adviser, the Funds intend to treat the
initial Change of Control Event as occurring when NXG Cushing acquires a 25% economic interest in the Adviser. In addition, the
Adviser Operating Agreement requires the funds managed by the Adviser, including the Funds, to obtain approvals of new advisory
agreements before the ownership interest of NXG Cushing may exceed 24.99%.

As noted above, while the definitive timing of such Change of Control Event is uncertain, management of the Adviser currently expects
that NXG Cushing would acquire a 25% economic interest in the Adviser in or around the second quarter of 2026.

| (v) | Please provide supplementally a copy of the agreement governing the Adviser Ownership Plan. |

As noted above, the Adviser Ownership Plan is
governed by the Adviser Operating Agreement, not by a separate agreement. The Funds have provided to the Staff supplementally excerpts of the relevant provisions of the Adviser Operating Agreement.

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| Comment 7 | The Preliminary Proxy Statement discloses that “Shareholder                                                                               
 approval will be deemed to apply to these future advisory agreements only if: (1) no single person or group acting together, other than   
 the members of the Management Group, gains “control” (as defined in the 1940 Act) of NXG Cushing or the Adviser …”                        
 Please explain supplementally whether a person or group of persons could be added to the Management Group due to payment of consideration 
 to allow them to become a controlling person and acquire a controlling interest in the Adviser without separate shareholder approval.     |

The Funds confirm that if any person or group
were to become a member of the Management Group due to payment of consideration and were accordingly to gain control of NXG Cushing or
the Adviser, shareholder approval obtained pursuant to the Proxy Statement would not apply.

| Comment 8: | Under the heading “Will                                                                                                               
 there be changes to the current Adviser, investment strategy or fee structure of my Fund?” in the Questions & Answers, the            
 Preliminary Proxy Statement states that “Under each Fund’s New Advisory Agreement, the Adviser will continue to provide investment    
 advisory services to