Company: SRV
Filing Date: 2025-03-28
Form Type: CORRESP
Source: 0001398344-25-006178
Chunk: 1

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-03-28
Form: CORRESP
Chunk 1
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 any change to governance of the Adviser upon NXG Cushing acquiring a 50% interest in the Adviser.                            |

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As noted in our prior response,
no change in the management of the Adviser will occur when NXG Cushing obtains a 50% economic interest in the Adviser. At such time, Swank
Capital will remain the sole general partner of the Adviser. As a result, the next Change of Control Event would occur when NXG Cushing
obtains a 60% economic interest in the Adviser, at which point the general partner of the Adviser will change from Swank Capital to NXG
Cushing.

| Comment 3 | Explain supplementally to the staff, given the uncertainty                                                                               
 in the first and subsequent Changes of Control Events, how the proxy statement would comply with the currency of information required    
 for approval of investment advisory agreements under Item 22(c) of Schedule 14A, including, but not limited to Items 22(c)(1), 22(c)(2), 
 22(c)(3) and 22(c)(6).                                                                                                                   |

As noted above, we have
revised the Definitive Proxy Statement to apply only to the initial Change of Control Event that will occur when NXG Cushing acquires
a 25% economic interest in the Adviser and not any future Change of Control Event resulting from the Adviser Ownership Plan, which will
remain subject to future shareholder approval. While the exact date of such initial Change of Control Event is not known, based on current
assets under management and revenues of the Adviser, it is expected to occur during the second quarter of 2026.

With respect to the currency
of information required by Item 22(c) of Schedule 14A, all such information will be provided as of recent dates prior to the date of the
Definitive Proxy Statement. The terms of the Adviser Ownership Plan are fixed pursuant to a definitive agreement among Jerry Swank, Swank
Capital and NXG Cushing which upon its terms will result in the initial Change of Control Event. The only unknown is the precise timing
of the occurrence of such Change of Control Event. Between now and the occurrence of the initial Change of Control Event, no material
changes are expected regarding the terms of the investment advisory agreement, the Adviser or the relationship between the Adviser and
the Funds, other than in accordance with the Adviser Ownership Plan,