Kayne Anderson Capital Advisors LP will consolidate its two energy private equity (PE) teams and one of the managing partners, Chuck Yates, will exit the firm, a source familiar with the matter told Reuters.
The shakeup at one of the largest private equity investors in oil and gas comes as the coronavirus outbreak ravages the energy industry, with oil prices plunging below zero for the first time last month.
Kayne Anderson has been involved in private energy investing since 1992 and its energy focused funds have raised nearly $8 billion capital, investing in more than 100 companies. It currently holds interests in about 20 firms.
Yates, who was previously senior vice president at privately held financial services firm Stephens Inc., joined Kayne Anderson in 2001.
Kayne Anderson could not be reached for comment, while Yates did not immediately respond to a request for comment on networking platform LinkedIn.
The source also said managing partner Mike Heinz is expected to stay with the fund.
Ryan Sauer, managing director, and Mark Teshoian, senior managing director, will help with the running of the energy funds, according to the source.
Recommended Reading
Integrating OCTG Management from Planning to Well
2024-12-10 - Tenaris’ Rig Direct provides improved collaboration and communication, and more uptime.
Analysis: Middle Three Forks Bench Holds Vast Untapped Oil Potential
2025-01-07 - Williston Basin operators have mostly landed laterals in the shallower upper Three Forks bench. But the deeper middle Three Forks contains hundreds of millions of barrels of oil yet to be recovered, North Dakota state researchers report.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
E&Ps Pivot from the Pricey Permian
2025-02-01 - SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.