Kayne Anderson Closes Fund III

Kayne Anderson Capital Advisors has held a final above-target close of its latest fund, Kayne Senior Credit Fund III LP, with $3 billion of committed capital.

Kayne Anderson’s middle market credit strategy invests in acquisition financings, refinancings, recapitalizations and growth capital to private equity sponsored and family-owned businesses that operate in a wide range of industries. Investment types include senior and junior secured loans, mezzanine debt, and equity co-investments.

The new fund received strong support from existing investors and new domestic and international limited partners. “We greatly appreciate the trust and support from our investors. We continue to execute on a proven lending strategy providing capital to middle market borrowers with sustainable business models and cash flows,” said Doug Goodwillie, Managing Partner of Kayne Middle Market Credit.

The group’s earlier senior fund, Kayne Senior Credit Fund II LP, closed in 2015 with $1.1 billion of committed capital and the first senior fund closed in 2012 with $355 million of capital.

“Since Fund III’s initial close in March 2017, Kayne has committed over $1.4 billion to 40 investments,” said Ken Leonard, Managing Partner of Kayne Anderson Middle Market Credit. “The success of this raise allows us to better service our clients by being able to utilize our balance sheet to underwrite and close a broader spectrum of transactions.” Kayne Anderson’s middle market credit group has offices in Los Angeles, Chicago and New York. Click HERE for the group’s webpage.

“Kayne has built a first-class credit platform managing over $7 billion in credit assets with capabilities across middle market direct lending, CLOs, real estate debt, opportunistic solutions, energy infrastructure and broadly syndicated credit strategies,” said Mike Levitt, CEO of Kayne Anderson.

Kayne Anderson was founded in 1984 and manages $29 billion in total assets for institutional investors, family offices, high net worth and retail clients. The firm has more than 300 employees in eight offices across the US and is headquartered in Los Angeles (www.kaynecapital.com).

© 2018 Private Equity Professional | August 27, 2018

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