Kayne Anderson Capital Advisors LP has appointed Mike Levitt as CEO. The firm has also promoted Bob Sinnott, previously president and CEO, to be co-chairman alongside founder Ric Kayne. Levitt is the former vice chairman of Apollo Credit Management.
LOS ANGELES–(BUSINESS WIRE)–Kayne Anderson Capital Advisors, L.P. (“Kayne”), a leading alternative asset manager, announced today that it has named Mike Levitt Chief Executive Officer (“CEO”) of Kayne. The firm also announced it has elevated Bob Sinnott, previously President and CEO, to be Co-Chairman of Kayne alongside Ric Kayne, the founder of Kayne. Mr. Sinnott will continue to chair Kayne’s energy strategies. Mr. Levitt will join Messrs. Sinnott and Kayne as part of the firm’s executive management team.
Formerly, Mr. Levitt was Vice Chairman of Apollo Credit Management within Apollo Capital Management, LLC. In addition, Mr. Levitt founded and was CEO of Stone Tower, LLC, a leading credit-focused alternative investment management firm, which was subsequently acquired by Apollo. During his 31-year career, Mr. Levitt has significant experience building, managing and providing vision for leading alternative asset managers.
“Mike comes to Kayne with a long history of successful investing and business building in the alternative investment area,” said Ric Kayne. “With the addition of Mike, we have strengthened our executive leadership team, provided for continuity in management for the next generation, and ensured my intent for Kayne to remain a private, independent firm for the long-term.”
Kayne continued, “In addition, I congratulate Bob on joining me as Co-Chair. Bob has been a true partner and I thank him for his hard work and dedication, in particular in energy, which has helped make us who we are today. Bob and I couldn’t be more excited about partnering with Mike to continue to build on Kayne’s success of generating attractive risk-adjusted returns for our investors for generations to come.”
“For the last 32 years, Kayne has built a unique platform focused on niche alternative investment strategies in the middle market in energy, real estate, credit and growth equity,” said Bob Sinnott. “Mike’s talents will benefit our firm greatly and ensure Kayne’s legacy continues for the long-term. Today’s investment environment provides our firm with some of the most compelling opportunities I’ve seen, and it is an honor to have someone of his caliber lead our firm’s management as we take advantage of these opportunities.”
“I am excited to join Kayne,” said Mike Levitt. “I have great respect for the firm, its leadership, and its investment professionals and look forward to working with the team. Kayne has an excellent investment track record across its strategies and is uniquely positioned to take advantage of today’s investment environment with an emphasis on real assets, current income and preservation of capital.”
Levitt will begin his role immediately and will be based in Kayne’s Los Angeles headquarters.
About Kayne Anderson Capital Advisors
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, and growth private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $22.5 billion in assets (as of 6/30/2016) for institutional investors, family offices, high net worth and retail clients and employs nearly 300 professionals in eight offices across the United States.
For more information, please visit our website: www.kaynecapital.com.
About Mike Levitt
Mike Levitt was formerly Vice Chairman of Apollo Credit Management within Apollo Capital Management, LLC. Prior to Apollo, Mr. Levitt founded and was Chairman and CEO of Stone Tower Capital LLC, a credit-focused alternative investment management firm which was subsequently bought by Apollo in 2012. Mr. Levitt has spent his entire 31-year career managing or advising non-investment grade businesses and investing in non-investment grade assets. Previously, Mr. Levitt worked as a partner in the New York office of Hicks, Muse, Tate & Furst Incorporated, where he was involved in many of the firm’s investments. Additionally, he managed the firm’s relationships with banking firms. Prior thereto, Mr. Levitt served as the Co-Head of the Investment Banking Division of Smith Barney Inc. with responsibility for the advisory, private equity sponsor and leveraged finance activities of the firm. Mr. Levitt began his investment banking career at, and ultimately served as a Managing Director of, Morgan Stanley & Co., Inc. Mr. Levitt oversaw the firm’s corporate finance and advisory businesses related to private equity firms and non-investment grade companies. Mr. Levitt has a B.B.A. from the University of Michigan and a J.D. from the University of Michigan Law School. Mr. Levitt serves on the University’s Investment Advisory Board.