Kayne Anderson launches public renewables fund

The Kayne Anderson Renewable Infrastructure Fund (KARIX) was launched this week with the aim to invest in companies that develop, build, own and operate the renewable power infrastructure necessary to transition to global power generation to a cleaner future. The Los Angeles-based alternative asset management firm said that the fund is the latest in an expansion of the $30 billion firm’s renewable investing platform, which includes public and private infrastructure projects. The fund is set to leverage Kayne Anderson’s two decades of experience as an energy infrastructure and seven years of experience investing in listed renewable infrastructure companies. The projects these companies focus on include wind farms, solar parks and energy storage. The fund is set to invest at least 80% of its net assets in a portfolio of renewable infrastructure companies that are involved in business activities related to renewable energy production, storage, and transmission. These companies include companies that own or operate assets used in the development, generation, production, transmission, storage, and sale of alternative and renewable energy such as solar power, wind power, biofuels, hydropower, or geothermal power. Renewable infrastructure companies may also be engaged in businesses related to energy conservation, water infrastructure, conventional power generation, and the sale, distribution, transmission, and marketing of electricity. “These are not companies that manufacture or develop renewable technologies, these are the hard assets in the renewable sector, with steady cash flows that we believe are well positioned to benefit from the unprecedented growth and secular tail winds driving the growth of renewable infrastructure,” said J.C. Frey, co-head of Kayne’s renewable platform. Justin Campeau is the co-portfolio manager of KARIX and cited $10 trillion as the amount expected to be spent on new renewable generating capacity over the next 30 years. “The fund seeks to achieve an attractive risk-adjusted total return by investing in these renewable infrastructure companies which historically have been less volatile and less correlated with the broader markets,” said Campeau.

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