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Alternative Market Briefing

Kayne Private Energy Income Fund closes on $1.55 billion

Thursday, September 01, 2016

Bailey McCann, Opalesque New York:

Kayne Anderson Capital Advisors has closed its newest energy-focused private equity fund, the Kayne Private Energy Income Fund on $1.55 billion. The fund's strategy is to partner with a select group of high-quality management teams to acquire and develop large, long-life producing oil and gas assets in North America.

KPEIF is led by managing partner, Danny Weingeist, and managing directors, David Iverson and Mark Teshoian, each of whom has been a key member of Kayne’s energy private equity practice for many years. "We are targeting attractive risk-adjusted returns for our investors through a combination of current income and capital appreciation," said Danny Weingeist.

The fund close comes at a time when a lot of private equity dollars are lining up to invest in the energy industry again now that the rout in oil prices seems to have stabilized.

The fund has already made one investment. In July, the fund announced that it is investing in Sabinal Energy, a Texas-based, independent oil and natural gas company headquartered in The Woodlands. The fund invested $300 million in the company which is developing assets primarily in the Rockies, Mid-Continent and Texas where members of management have extensive operational and development experience.

Sabinal is led by President and CEO Bret Jameson. Bret most recently served as Chief Operating Officer for privately held and South Texas focused Lewis Energy, and as Vice Presiden......................

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