Denver Employees Retirement Plan committed $40 million to Kayne Anderson Energy Fund VII, subject to successful contract negotiations, said Randy Baum, chief investment officer, in an e-mail.
The fund targets high-growth exploration and production, midstream, and mineral and royalty interest companies in North America and is managed by Kayne Anderson Capital Advisors.
It is the $2.1 billion pension fund’s first commitment to a Kayne Anderson fund.
The commitment is expected to bring the pension fund closer to its 5.5% private energy target, up from its current 1.5% level, Mr. Baum said.
