Kayne Anderson Energy Funds, which is focused on investments in the oil and gas sectors, has closed its sixth fund – Kayne Anderson Energy Fund VI, L.P. – with $1.6 billion in commitments. The firm is based in Los Angeles.
Kayne Anderson Energy Funds, which invests in private oil and gas companies, announced that it has closed its sixth fund, Kayne Anderson Energy Fund VI, L.P., with total commitments of $1.6 billion. The Fund was considerably oversubscribed with strong support from existing investors and new commitments by some of the nation’s leading institutional investors.
“We are very pleased with the fundraising results and are delighted by the strong support shown by our investors. We believe the success of this raise is a reflection of the tremendous investment opportunity in today’s oil and gas sector, which is being driven by an incredible resurgence of North American energy production and an unprecedented need for capital formation in the industry,” said Danny Weingeist, Managing Partner of Kayne Anderson Energy Funds.
Kayne Anderson Energy Fund VI is off to a strong start. To date, the Fund has made commitments to seven private oil and gas companies totaling $750 million in capital. The Fund’s investment approach is to partner with successful management teams and identify oil and gas properties that can be proved up at attractive economics while managing risk. “We’ve been fortunate to have backed some high quality teams in the past and being able to raise this fund will allow us to continue to back teams with a focus on creating value in this environment,” said Chuck Yates and Mike Heinz, Partners of Kayne Anderson Energy Funds.
“For 20 years now, Kayne Anderson has been a leader in energy investing. We are very proud of our energy team. As the need for capital grows to fully develop North American energy production, we believe now more than ever our strategy of identifying niches where we can bring the combination of disciplined financing with knowledge and sourcing advantages, as well as technical expertise, to capital-constrained spaces gives us an enormous advantage,” said Bob Sinnott, Chief Executive Officer of Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”).
Kayne Anderson Energy Fund VI is Kayne Anderson’s sixth private equity energy fund and brings the total raised by Kayne Anderson Energy Funds to over $4.2 billion since the launch of its first energy fund in 1998. Kayne Anderson Energy Funds has made 84 investments and has fully realized 41 of them.
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson, founded in 1984, is a leading alternative investment firm with $18 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 City, Armonk, Chicago, Denver, Dallas and Atlanta.