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
Shale Outlook Permian: The Once and Future King Keeps Delivering
2025-01-11 - The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
Shale Outlook Uinta: Horizontal Boom to Continue in 2025
2025-01-11 - After two large-scale transactions by SM Energy and Ovintiv, the Uinta Basin is ready for development—and stacked pay exploration.
Shale Outlook Appalachia: Natural Gas Poised to Pay
2025-01-09 - Increasing gas demand is expected to rally prices and boost midstream planning as a new Trump administration pledges to loosen permitting—setting the stage for M&A in the Appalachian Basin.
DOE Awards Pioneer Energy $27MM for Emissions Reduction Projects
2025-01-08 - Pioneer Energy said it will allocate most of the funds toward advancing its Emission Control Treater, a near zero emissions well pad production technology, as it implements projects in the Eagle Ford, Cotton Valley and Colorado.
PRB’s Sage Butte Ready for M&A Across Lower 48, Maybe Canada Too
2025-01-08 - Private E&P Sage Butte Energy, which operates in the Powder River Basin, is less interested in the Permian Basin, citing the cost of entry.