Andrea M. Bollyky will join alternative investment manager Kayne Anderson Capital Advisors as senior managing director, effective Jan. 1.
The position is new. Ms. Bollyky joins Kevin Welsh, also a senior managing director, as co-head of institutional development, said Paul Blank, Kayne Anderson's managing director, strategic planning and public affairs, in an interview. Ms. Bollyky will focus on developing strategic relationships as part of the firm's push to increase its institutional client base.
About one-third or $7.5 billion of Kayne Anderson's $24 billion under management as of Nov. 30 currently is from institutions.
Ms. Bollyky was a managing director and head of business development at institutional hedge funds-of-funds manager Aetos Capital, where she spent the past 10 years. Aetos managed $12 billion as of Nov. 30.
Anne Casscells, Aetos' managing director, co-president and chief investment officer, did not return a call about Ms. Bollyky's replacement.