Kayne Anderson Raises $1.55B For New Energy-Focused PE Fund

Sep 1 2016 | 9:04pm ET

Private equity company Kayne Anderson Capital Advisors has raised $1.55 billion in capital commitments for its newest energy-focused private equity fund.

The new vehicle, named the Kayne Private Energy Income Fund, aims to partner with a select group of high-quality management teams to acquire and develop large, long-life producing oil and gas assets in North America, the company said on Wednesday. The launch brings capital raised for Kayne’s energy private equity practice to more than $7 billion since inception. 

The new fund will be led by managing partner Danny Weingeist and managing directors David Iverson and Mark Teshoian, according to a statement. 

“We are fortunate to have received strong support from a distinguished group of institutional investors and are encouraged by our partners’ confidence in the fund’s strategy,” said Weingeist. “We are targeting attractive risk-adjusted returns for our investors through a combination of current income and capital appreciation.”

Los Angeles-based Kayne Anderson was founded in 1984 by Ric Kayne and John Anderson. The company manages about $22.5 billion in energy, infrastructure, credit and private equity assets for institutional investors, family offices, high net worth and retail clients. 

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