Fundraising - MAY 15, 2013

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Kayne Anderson nears final close for third fund

by Andrea Waitrovich

Kayne Anderson Capital Advisors has planned a final close for its Kayne Anderson Real Estate Partners III (KAREP III) on May 31, 2013. The opportunistic vehicle seeks $700 million in equity commitments from investors to target off-campus student housing opportunities in the United States.

The firm held a first close in April, raising $675 million. The fund has not yet started to invest its capital.

Kayne Anderson’s prior fund, Kayne Anderson Real Estate Partners II (KAREP II), held a final closing of $575 million in October 2011, exceeding its initial target of $350 million. KAREP II was raised over the course of approximately one year, having held a first close in December 2010. Kayne Anderson

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