Kayne Anderson Capital Advisors closed its latest energy-focused private equity fund, Kayne Anderson Energy Fund VII, at its $2 billion hard cap, said a news release.
The fund partners with management teams focused on growth-oriented upstream oil and gas companies in North America.
Kayne Anderson closed this energy fund a little more than a month after the firm announced the close of its $1.55 billion Kayne Private Energy Income Fund, which invests in large, long-life upstream oil and gas onshore assets in North America.
The private equity firm closed its last growth fund in 2013 — the $1.6 billion Kayne Anderson Energy Fund VI.
Investors in its newest fund include Kentucky Retirement Systems, Frankfort, which administers roughly $11 billion in pension assets and $4 billion in insurance assets; $13 billion Orange County Employees Retirement System, Santa Ana, Calif.; University of Michigan, Ann Arbor, which has a $9.9 billion long-term endowment pool; and $2.7 billion San Antonio Fire & Police Pension Fund.
Chuck Yates, managing partner; Mike Heinz, managing partner; and Bob Sinnott, co-chairman of and head of Kayne Anderson's energy investment strategies, could not be reached by press time.