Kayne Anderson Real Estate announced Tuesday that it had closed its sixth opportunistic equity fund, Kayne Anderson Real Estate Partners VI, L.P. (KAREP VI), with $2.75 billion in capital commitments. The firm said it intends to invest the funds in senior housing as well as student housing and medical office buildings.
The fund had an original target of $2 billion target, so the $2.75 billion amount is the firm’s largest-ever closed-end fund to date. The firm closed the fund’s predecessor at $1.8 billion in 2018.
The fund has received support from existing investors as well as interest from new investors, the company said.
“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,” the company said.
