The $2.7 billion San Antonio Fire & Pension Fund has committed $10 million to Kayne Anderson Energy Fund VII, according to recently released board meeting minutes.
The fund targets high-growth exploration and production, midstream, and mineral and royalty interest companies in North America. Kayne Anderson targets high-quality management teams on the verge of undertaking significant transactions or projects.
The fund’s capital will be used by the portfolio companies to increase production levels, cash flows and asset values, to acquire assets, or to fund specific projects. Investment commitments are typically funded over time as Kayne Anderson works with the management teams to implement their business strategies. Investments are expected to be geographically diversified across North America.
Kayne Anderson Energy Fund VI closed in 2013 with $1.6 billion. The fund’s investment approach is to partner with successful management teams and identify oil and gas properties that can be proved up at attractive economics while managing risk.