Kayne Anderson Capital Advisors’ Middle Market Credit Platform announced the successful raising of $350 million in capital for its senior loan lending effort, Kayne Senior Credit Fund, L.P. (KSCF). KSCF provides senior secured credit solutions to sponsored and non-sponsored middle market borrowers with $10 million to $50 million in EBITDA and seeks to hold $10 million to $50 million positions in senior, unitranche, split-lien and last-out loans. The KSCF principals have focused exclusively on the middle market for more than 20 years, lastly as co-founders of Dymas Capital. The KSCF team is based in Chicago and led by Al Ricchio, Andy Marek, Ken Leonard and Doug Goodwillie. To date, KSCF has completed four transactions totaling $71 million.
“The successful completion of our inaugural fundraise for senior credit will allow us to renew our focus in 2013 on what we’ve always done, provide financing flexibility and certainty to private equity sponsors and stand-alone companies in the middle market.” Al Ricchio, managing partner, KSCF.
KSCF is the newest addition to Kayne’s Middle Market Credit Platform. The platform, which focuses on providing comprehensive debt capital solutions for traditional middle market companies, is led by co-managing partners Ed Cerny and Dave Petrucco. In addition to KSCF, the platform manages other credit funds all focused on companies in the traditional middle market.
“We are very pleased to have expanded our platform to include senior secured lending for our clients. Al, Andy, and Ken are pioneers in the world of middle market lending and this team represents one of the most talented and respected group of professionals in the marketplace. Their presence in Chicago expands our platform’s geographic footprint, which includes New York City, Los Angeles and Houston. Our platform can solve for the borrowing needs of our clients in a way we believe very few competitors can match across senior, junior secured and unitranche loans, mezzanine securities and equity co-investments.” Ed Cerny, managing partner, Kayne Anderson Middle Market Credit Platform.
Kayne Anderson, founded in 1984, is a leading alternative investment firm with $19.4 billion in assets under management.