Kayne Anderson Private Credit Unloads Minority Stake to Bonaccord

Kayne Anderson Private Credit (KAPC), a middle-market private lending platform, announced that Bonaccord Capital Partners, a private equity firm and subsidiary of asset manager P10 Inc., has made a passive minority investment in the firm.

Specific terms of the deal were not disclosed.

Chicago-based KAPC, which has $6 billion in assets under management, intends to use the funds for expansion into new areas of lending and retail offerings, according to Bloomberg.

“Bonaccord’s value creation expertise will be a critical element in our strategic toolkit as we focus on continuing to build our platform of private credit offerings that serve our limited partners with reliable capital solutions,” said Doug Goodwillie, co-head of Kayne Anderson Private Credit.

KAPC will continue to be a part of Kayne Anderson Capital Advisors and there will be no change to KAPC’s investment process, day-to-day management, or firm operations.

Bonaccord makes non-control equity interests in private markets investment firms across private equity, private credit, real estate and real assets.

Moelis & Company LLC served as financial advisor to Kayne Anderson Private Credit. Kirkland & Ellis LLP acted as legal counsel to Kayne Anderson Private Credit and Fried, Frank, Harris, Shriver & Jacobson LLP advised Bonaccord.