Kayne Partners raises $385m for fourth fund

The oversubscribed fund will target lower middle-market companies in North America.

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Kayne Partners, the growth equity arm of Kayne Anderson Capital Advisors, closed its fourth fund at a hard cap of $385 million.

The fund, which was oversubscribed, raises Kayne Partners’ total committed capital to $740 million across its four institutional funds.

Kayne Partners Fund IV will continue the firm’s strategy of providing growth capital to lower middle-market companies in North America in multiple sectors, including financial services, healthcare, and industrials.

According to the firm’s press release, Kayne Partners will seek to invest between $5 million and $30 million in companies with $5 million to $40 million in revenue.