Kayne Anderson Capital Advisors, L.P. has announced the final close of its newest energy-focused private equity fund, the Kayne Private Energy Income Fund, L.P. (KPEIF), at total capital commitments of US$1.55 billion.
KPEIF’s strategy is 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 fund is part of Kayne’s successful energy private equity practice that has raised over US$7 billion since inception.
KPEIF is led by managing partner, Danny Weingeist, and managing directors, David Iverson and Mark Teshoian, each of whom has been a key member of Kayne’s energy private equity practice for many years.
Danny Weingeist said:
“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. We are targeting attractive risk-adjusted returns for our investors through a combination of current income and capital appreciation. We believe that our strategy is well-suited to capitalize on opportunities in the current investing environment.”