Kayne Anderson raises over $600m in CLO strategy

Kayne Anderson Capital Advisors closed its Kayne CLO Partners Fund II with over $600 million of investable capital, which officials said is more than three times the size of its predecessor fund KCLOP I that closed in 2018. The investment strategy is to allocate in majority stakes in Kayne-managed CLO equity and warehouse facilities, as well as tradable stakes in externally managed CLO equity and mezzanine debt. The investors in the latest fund included pensions, insurance companies, foundations and endowments, RIAs, family offices and high-net-worth investors. “Kayne has quickly established itself as one of the leading CLO platforms now having closed nine CLOs with nearly $4 billion in assets under management and we will continue to expand our platform in the coming years across structured and corporate credit,” said John Eanes, head of liquid credit and managing partner of the fund. The $13 billion credit platform of the Los Angeles-based firm now includes more than 50 investment professionals who allocate across the credit spectrum including middle market direct lending, opportunistic credit, liquid credit and real estate credit. More than $5 billion in assets are in liquid credit. Overall, Kayne Anderson has $32 billion in AUM across alternative investment strategies. Mike Levitt, Kayne’s CEO added, “We have positioned ourselves with the capital and flexibility to be opportunistic when markets allow, and the KCLOP II fundraise is the most recent example of that credit philosophy.”

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