Kayne Anderson Capital Advisors, L.P. (Kayne) has announced the final close of its newest energy-focused private equity fund, the Kayne Private Energy Income Fund, L.P. (KPEIF), at total capital commitments of US$1.55 billion.

KPEIF’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. The Fund is part of Kayne’s energy private equity practice that has raised over $7 billion since inception.

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.

Danny Weingeist, said:

“We are fortunate to have received strong support from a distinguished group of institutional investors and are encouraged by our partners’ confidence in the Fund’s strategy. We are targeting attractive risk-adjusted returns for our investors through a combination of current income and capital appreciation. We believe that our strategy is well-suited to capitalize on opportunities in the current investing environment.”