Alternative asset manager Kayne Anderson Capital Advisors has named Mike Levitt as the firm’s new chief executive officer.
The firm has also promoted Bob Sinnott, previously president and CEO, to be co-chairman of Kayne alongside founder Ric Kayne. Sinnott will continue to chair Kayne’s energy strategies. Levitt (pictured) will join Sinnott and Kayne as part of the firm’s executive management team.
Formerly, Levitt was vice chairman of Apollo Credit Management within Apollo Capital Management. In addition, Levitt founded and was CEO of Stone Tower, a credit-focused alternative investment management firm, which was subsequently acquired by Apollo.
During his 31-year career, Levitt has significant experience building, managing and providing vision for leading alternative asset managers.
“Mike comes to Kayne with a long history of successful investing and business building in the alternative investment area,” says Kayne. “With the addition of Mike, we have strengthened our executive leadership team, provided for continuity in management for the next generation, and ensured my intent for Kayne to remain a private, independent firm for the long-term.
“In addition, I congratulate Bob on joining me as co-chair. Bob has been a true partner and I thank him for his hard work and dedication, in particular in energy, which has helped make us who we are today. Bob and I couldn’t be more excited about partnering with Mike to continue to build on Kayne’s success of generating attractive risk-adjusted returns for our investors for generations to come.”
“For the last 32 years, Kayne has built a unique platform focused on niche alternative investment strategies in the middle market in energy, real estate, credit and growth equity,” says Sinnott. “Mike’s talents will benefit our firm greatly and ensure Kayne’s legacy continues for the long-term. Today’s investment environment provides our firm with some of the most compelling opportunities I’ve seen, and it is an honour to have someone of his calibre lead our firm’s management as we take advantage of these opportunities.”
“I am excited to join Kayne,” says Levitt. “I have great respect for the firm, its leadership, and its investment professionals and look forward to working with the team. Kayne has an excellent investment track record across its strategies and is uniquely positioned to take advantage of today’s investment environment with an emphasis on real assets, current income and preservation of capital."
