Kayne Anderson Real Estate, the real estate private equity arm of Kayne Anderson Capital Advisors, L.P., has raised $2.75 billion for its sixth opportunistic equity fund, Kayne Anderson Real Estate Partners VI, L.P.
The fund exceeding its original $2 billion target is the largest raised by Kayne Anderson Capital Advisors to date.
The oversubscribed fund will invest in high-quality medical office, seniors housing and student housing assets.
”The combination of an aging U.S. population and accelerating enrollments indicate strong growth characteristics across each asset class, and KA Real Estate’s operator-oriented platform, unique sourcing network and strong financing and lending relationships will allow the firm to deploy capital and build on its portfolio of high-quality assets while creating consistent value for investors,” said the company in a statement.
KA Real Estate said it is working closely with a number of industry-leading companies and developers to provide state-of-the-art medical facilities to support demand for sophisticated new services, innovative amenity-rich student housing communities and wellness-focused senior living spaces that prioritize tenant, resident and community experience.
“Our history of success investing in medical, seniors and student assets reflects the deep experience, talent and creativity of our investment team and the myriad of long-term relationships we have developed with the most sophisticated and innovative partners in the alternative real estate space,” said Al Rabil, Chief Executive Officer, Kayne Anderson Capital Advisors and Co-Founder and CEO, Kayne Anderson Real Estate.
“We are extremely pleased to have closed our largest opportunistic equity fund to date, and the tremendous support from new and existing investors alike is a testament to our long-term investment strategy, continued outperformance and commitment to the core alternative sectors where we have outsized knowledge and operational expertise,” he added.
With the closing of KAREP VI, KA Real Estate has completed over $23 billion of gross investments across its equity and debt strategies, and has invested in approximately 25 million square feet of medical office space, 17,400 seniors housing units, 50,000 student housing beds, and over 9,000 loans secured by assets across these target sectors, including two million multifamily units.