Kayne Anderson Completes Fundraise for Senior Fund
Search

Kayne Anderson Completes Fundraise for Senior Fund

Kayne Anderson Capital Advisors has completed fundraising for Kayne Senior Credit Fund, L.P. (“KSCF”) at $350 million. KSCF is the newest addition to Kayne’s Middle Market Credit Platform which focuses on providing debt capital for traditional middle market companies. The KSCF team is based in Chicago and is led by Al Ricchio, Andy Marek, Ken Leonard and Doug Goodwillie.

“The successful completion of our inaugural fundraise for senior credit will allow us to renew our focus in 2013 on what we’ve always done, provide financing flexibility and certainty to private equity sponsors and stand-alone companies in the middle market,” said Al Ricchio, Managing Partner, KSCF.

The new fund will provide senior secured credit facilities to sponsored and non-sponsored middle market borrowers with $10 million to $50 million in EBITDA and seeks to hold $10 million to $50 million positions in senior, unitranche, split-lien and last-out loans. To date, KSCF has completed four transactions totaling $71 million.

The managing partners of KSCP joined Kayne Anderson as a unit in September 2011. The team has an extensive history (over two decades) of working together in the North American senior credit middle market, most recently as the co-founders of Dymas Capital and prior to that at GE Capital/Heller Financial. They have more than 70 years of combined lending experience and have collectively completed over 500 transactions representing over $10 billion in underwritten middle market bank loan commitments over multiple credit cycles.

Kayne’s Middle Market Credit Platform is led by co-managing partners Ed Cerny and Dave Petrucco. In addition to KSCF, the platform manages other credit funds all focused on companies in the traditional middle market.

“We are very pleased to have expanded our platform to include senior secured lending for our clients. Al, Andy, and Ken are pioneers in the world of middle market lending and this team represents one of the most talented and respected group of professionals in the marketplace. Their presence in Chicago expands our platform’s geographic footprint, which includes New York City, Los Angeles and Houston. Our platform can solve for the borrowing needs of our clients in a way we believe very few competitors can match across senior, junior secured and unitranche loans, mezzanine securities and equity co-investments,” said Ed Cerny, Managing Partner, Kayne Anderson Middle Market Credit Platform.

Kayne Anderson, founded in 1984, is an alternative investment firm with $19.4 billion in assets under management. The firm focuses on niche investing in energy, energy infrastructure, growth equity, specialty real estate and middle market credit. Kayne Anderson is entirely owned by its investment professionals and management. The firm is headquartered in Los Angeles with offices in Houston, New York, Chicago, Denver, Dallas and Atlanta (www.KayneCapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 3-5-13

To search in site, type your keyword and hit enter