Real Estate: GSAM Takes Minority Stake in Kayne Anderson Real Estate

January 21, 2020 | Investments, News, Real Estate
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GSAM takes a minority stake in $8 billion RE firm.

Kayne Anderson Real Estate has secured a prestigious investor. Goldman Sachs Asset Management has taken a passive minority investment in the firm through its AIM Petershill program. Kayne Real Estate is an alternative real estate management firm with roughly $8 billion under management.

Kayne Anderson Real Estate

Founded in 2007, Kayne Anderson Real Estate emerged from a partnership between Al Rabil and Kayne Anderson Capital Advisors.

The firm will continue to be a part of Kayne Anderson Capital Advisors. It will also still operate under the direction of Al Rabil, Co-founder, Managing Partner and CEO Officer, and David Selznick, CIO. The firm will not make any changes to management, control or the business, or funds.

“We are thrilled to have Petershill as a minority partner in our business,” said Rabil in a press release. “Petershill has a history of supporting a select group of alternative asset managers and we are privileged to have their partnership as we continue to grow and deliver results for our investors.”

Goldman Sachs AIMS Petershill Program

The AIMS Petershill program launched over a decade ago to partner with leading alternative asset managers. AIMS Petershill’s minority investments seek to support the creation of long-term value by providing strategic capital to enhance employee retention, facilitate business development, buy out legacy equity holders and generate strategic options.

Meanwhile, AIMS Petershill falls under Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group. That group manages over $250 billion in assets. It allocates to real estate, private equity, hedge-fund, and traditional long-only managers.

Recent: Tim Melvin: Expectations for REITs in 2020

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