Kayne Anderson Names Apollo Exec Mike Levitt as CEO

Jul 14 2016 | 7:40pm ET

Kayne Anderson Capital Advisors has named Mike Levitt as chief executive officer and has promoted Bob Sinnott, who was previously president and CEO, to be the firm’s co-chairman alongside founder Ric Kayne.

Levitt will be based at the firm’s Los Angeles headquarters and will begin immediately, according to the company. His appointment follows the busted $2.55 billion merger between Kayne and alternative investment manager Ares Capital Management that reportedly fell apart last fall amid differences about how to handle the epic decline in energy prices.

Levitt has more than thirty years of experience in the alternative investment management business. He was formerly vice chairman of Apollo Credit Management, a unit of Apollo Capital Management, which he became when Apollo bought his credit-focused hedge fund firm Stone Tower, LLC. Previously, he was a partner in the New York office of Hicks, Muse, Tate & Furst, was co-head of investment banking for Smith Barney, and began his investment banking career at Morgan Stanley. 

“Mike comes to Kayne with a long history of successful investing and business building in the alternative investment area,” said Kayne in a statement. “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.”

Founded in 1984 by Kayne and John Anderson, who passed away in 2011, Kayne Anderson manages about $22.5 billion in energy, infrastructure, credit and private equity assets for institutional investors, family offices, high net worth and retail clients. 

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