Kayne Anderson has closed on its $2.25 billion Kayne Private Energy Income Fund III LP (KPEIF III) focused on acquiring and developing large-scale oil and natural gas assets, the investment manager said May 14.
When combining the fund with co-investments, Kayne Anderson’s private energy income strategy has raised over $2.8 billion since the fundraise launch.
KPEIF III exceeded its $1.5 billion target, building on the success of its predecessors KPEIF I and KPEIF II. Collectively, the funds have deployed over $3.7 billion in capital to 15 portfolio companies.
KPEIF III is Kayne Anderson’s third flagship fund in the past decade. It was led by managing partners and co-heads Danny Weingeist and Mark Teshoian.
“We see today’s market as a compelling entry point and are confident our strategy is well positioned to navigate market volatility and create significant value for our investors,” Teshoian said.