Kayne Anderson Real Estate Announces Strategic, Minority Investment by Goldman Sachs Asset Management Petershill Platform

NEW YORK and BOCA RATON, Fla., Jan. 17, 2020 /PRNewswire/ -- Kayne Anderson Real Estate ("KA Real Estate" or the "firm"), an investment firm focused on alternative real estate asset classes, announced that Goldman Sachs Asset Management's AIMS Petershill program has made a passive minority investment to support the continued success of KA Real Estate. The firm will continue to be a part of Kayne Anderson Capital Advisors and operate under the direction of Al Rabil, Co-founder, Managing Partner and Chief Executive Officer, and David Selznick, Chief Investment Officer, with no changes to the management, funds or control of the business.

Kayne Anderson Real Estate is a leading real estate investor that manages nearly $8 billion on behalf of institutional, foundation, endowment and high net worth investors globally. The firm invests in opportunistic, core and debt strategies in the alternative real estate sectors of medical office, seniors housing, student housing and self-storage. The platform was launched in 2007 as a partnership between Kayne Anderson Capital Advisors, L.P. (KACALP) and Mr. Rabil. KA Real Estate will remain a part of KACALP, which oversees $31 billion with more than 30 years of successful alternative investment management experience in the infrastructure, energy, real estate, credit and growth capital sectors.

This transaction will facilitate the continued strategic development of KA Real Estate by providing capital that will be reinvested in the business and utilizing Petershill's global platform to provide strategic support for new platform initiatives and expanding an already first-class base of global limited partners.  "We are thrilled to have Petershill as a minority partner in our business," said Mr. Rabil. "Petershill has a history of supporting a select group of alternative asset managers and we are privileged to have their partnership as we continue to grow and deliver results for our investors." Robert Hamilton Kelly, Managing Director in the AIMS Petershill program commented, "We are excited to partner with KA Real Estate - a leading alternative real estate player in North America – and to support them on the next phase of their development."

The AIMS Petershill program launched over a decade ago to partner with leading alternative asset managers and help to accelerate their strategic development. AIMS Petershill's minority investments seek to support the creation of long-term value by providing strategic capital to enhance employee retention, facilitate business development, buy out legacy equity holders and generate strategic options – while preserving the autonomy and entrepreneurial spirit of these organizations. AIMS Petershill is part of Goldman Sachs Asset Management's Alternative Investments & Manager Selection Group, which manages over $250 billion in assets across leading real estate, private equity, hedge-fund, and traditional long-only managers.

Evercore served as financial advisor to Kayne Anderson Real Estate. Kirkland & Ellis LLP served as legal counsel. 

SOURCE Kayne Anderson Real Estate

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