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Kayne Anderson Capital Advisors Closes $3B Middle Market Credit Fund

August 24, 2018, 08:00 AM
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Kayne Anderson Capital Advisors, L.P. announced the final close of its middle market credit fund, Kayne Senior Credit Fund III, L.P. The Fund was closed with approximately $3.0 billion of investable capital comprised of limited partner commitments, separately managed accounts and leverage. The Fund will continue Kayne Anderson’s successful strategy of providing privately originated secured loans to middle market businesses in North America. KSCF III exceeded its fundraising target, with strong support from existing investors and new domestic and international clients, evidencing the strength of the direct lending platform.

“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.

“Since KSCF 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. We are fortunate to have built an impressive team of over 20 professionals in Chicago and NYC that enable us to continue to source and underwrite credit investments with superior risk reward dynamics.”

Mike Levitt, CEO of Kayne Anderson, said, “Kayne has built a first-class credit platform managing over $7.0 billion in credit assets with capabilities across middle market direct lending, CLOs, real estate debt, opportunistic solutions, energy infrastructure and broadly syndicated credit strategies.”

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