Personal fairness agency Kayne Anderson has reportedly closed the primary spherical of a brand new fund price $1.53 billion for a seventh flagship opportunistic fund partly concentrating on senior dwelling communities.
The goal for the fund, reportedly known as Kayne Anderson Actual Property Companions VII, is $3 billion. Because it has carried out earlier than, the agency is planning to focus on property varieties together with senior housing, pupil housing and medical workplace properties. In line with PERE Information, which first reported on the fund, the agency plans to shut the fund within the first half of subsequent 12 months with an inner return charge of 15% to 18%.
In line with PERE, the fund is anticipated to spin up over the following 18 to 24 months, and information confirmed it could are available in because the third-largest fund available in the market at present concentrating on a number of non-traditional sectors.
Kayne Anderson has supported different equally massive funds prior to now, together with a $1.9 billion fund partly concentrating on senior housing in 2022.
Senior dwelling M&A continues to be primarily being pushed by misery in 2024 as consumers and sellers proceed making an attempt to return to phrases. Though rates of interest are nonetheless complicating new offers, there are some indicators that aid could also be across the nook within the type of rate of interest cuts.
