Kayne Anderson Real Estate has raised $2.75bn (€2.4bn) for its sixth opportunistic equity fund.
The manager said the amount raised for the Kayne Anderson Real Estate Partners VI (KAREP VI) fund exceeded its original $2bn target.
The oversubscribed fund received support from existing investors as well as significant interest from a diverse base of new investors, the manager said, adding that the amount raised for KAREP VI is the largest raised by Kayne Anderson to date.
The previous fund, KAREP V raised $1.8bn in May 2018.
KAREP VI will invest in high-quality medical offices, seniors housing and student housing assets that require and benefit from specialised operational knowledge and expertise.
Al Rabil, CEO of Kayne Anderson Capital Advisors and co-founder and CEO, Kayne Anderson Real Estate, said: “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.”
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