Kayne Anderson, Saybrook in joint venture to buy distressed municipals

By Tali David

Minneapolis, Nov. 13 - Kayne Anderson Capital Advisors, LP and the Saybrook municipal opportunities platform are joining together to launch the Kayne Saybrook municipal platform, according to a news release.

The platform will focus on niche investing in distressed and defaulted municipal securities.

Jon Schotz and Jeff Wilson will oversee the Kayne Saybrook municipal platform as managing partners and co-portfolio managers.

"We think the distressed municipal bond market is an important investment niche where knowledge, experience and sourcing advantages will deliver attractive, risk-adjusted returns for our investors," chief executive officer and chief investment officer Bob Sinnott said in the release.

Kayne Anderson is a Los Angeles-based asset management firm focusing on niche investments in upstream energy, energy infrastructure, specialty real estate, credit and growth private equity.

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