Goldman Sachs’ Acquisition of Minority Interest in Kayne Anderson Real Estate

Kirkland & Ellis represented Kayne Anderson Real Estate on the deal.

Goldman Sachs Asset Management’s AIMS Petershill program has made a passive minority investment to support the continued success of Kayne Anderson Real Estate. Terms of the investment were not disclosed.

The firm will continue to be a part of Kayne Anderson Capital Advisors and operate under the direction of Al Rabil, Co-founder, Managing Partner and Chief Executive Officer, and David Selznick, Chief Investment Officer, with no changes to the management, funds or control of the business.

Kayne Anderson Real Estate is a leading real estate investor that manages nearly $8 billion on behalf of institutional, foundation, endowment and high net worth investors globally. The firm invests in opportunistic, core and debt strategies in the alternative real estate sectors of medical office, seniors housing, student housing and self-storage.

The AIMS Petershill program launched over a decade ago to partner with leading alternative asset managers and help to accelerate their strategic development. 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 – while preserving the autonomy and entrepreneurial spirit of these organizations. AIMS Petershill is part of Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group, which manages over $250 billion in assets across leading real estate, private equity, hedge-fund, and traditional long-only managers.

The Kirkland team was led by investment funds partner Jordan Murray (Picture) and transactional partners Michael Reeves and Tana Ryan. The team also included transactional associates Michele Cumpston, April Larkin and Kristina Mooradian; tax partners Lee Morlock and Paul Patrow; investment funds partner Aaron Schlaphoff and associate Nathan Schuur; executive compensation partner Jack Stratton; employee benefits partner Elizabeth Dyer; and international trade and national security associate Luci Hague.

Involved fees earner: Michele Cumpston – Kirkland & Ellis; Elizabeth Dyer – Kirkland & Ellis; Luci Hague – Kirkland & Ellis; April Larkin – Kirkland & Ellis; Kristina Mooradian – Kirkland & Ellis; Lee Morlock – Kirkland & Ellis; Jordan Murray – Kirkland & Ellis; Paul Patrow – Kirkland & Ellis; Michael Reeves – Kirkland & Ellis; Tana Ryan – Kirkland & Ellis; Aaron Schlaphoff – Kirkland & Ellis; Nathan Schuur – Kirkland & Ellis; Jack Stratton – Latham & Watkins;

Law Firms: Kirkland & Ellis; Latham & Watkins;

Clients: Kayne Anderson Real Estate;

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Author: Ambrogio Visconti