diff --git a/lib/py/src/transport/TSocket.py b/lib/py/src/transport/TSocket.py
index 327dae0..360b7b1 100644
--- a/lib/py/src/transport/TSocket.py
+++ b/lib/py/src/transport/TSocket.py
@@ -133,6 +133,8 @@
             msg = 'failed to resolve sockaddr for ' + str(self._address)
             logger.exception(msg)
             raise TTransportException(type=TTransportException.NOT_OPEN, message=msg, inner=gai)
+        # Preserve the last exception to report if all addresses fail.
+        last_exc = None
         for family, socktype, _, _, sockaddr in addrs:
             handle = self._do_open(family, socktype)
 
@@ -145,13 +147,14 @@
                 handle.connect(sockaddr)
                 self.handle = handle
                 return
-            except socket.error:
+            except socket.error as e:
                 handle.close()
                 logger.info('Could not connect to %s', sockaddr, exc_info=True)
+                last_exc = e
         msg = 'Could not connect to any of %s' % list(map(lambda a: a[4],
                                                           addrs))
         logger.error(msg)
-        raise TTransportException(type=TTransportException.NOT_OPEN, message=msg)
+        raise TTransportException(type=TTransportException.NOT_OPEN, message=msg, inner=last_exc)
 
     def read(self, sz):
         try:
diff --git a/lib/py/test/test_socket.py b/lib/py/test/test_socket.py
index 727aceb..af09515 100644
--- a/lib/py/test/test_socket.py
+++ b/lib/py/test/test_socket.py
@@ -30,6 +30,16 @@
 
 
 class TSocketTest(unittest.TestCase):
+    def test_failed_connection_raises_exception(self):
+        sock = TSocket(host="localhost", port=60606) # unused port
+        with self.assertRaises(TTransportException) as ctx:
+            sock.open()
+        exc = ctx.exception
+        self.assertEqual(exc.type, TTransportException.NOT_OPEN)
+        self.assertIn("Could not connect to any of", exc.message)
+        self.assertIsNotNone(exc.inner)
+        self.assertIn("Connection refused", str(exc.inner))
+
     def test_socket_readtimeout_exception(self):
         acc = ServerAcceptor(TServerSocket(port=0))
         acc.start()