Kayne Anderson Capital Advisors and the Saybrook Municipal Opportunities Platform are to launch the Kayne Saybrook Municipal Platform, which 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.
Schotz and Wilson pioneered the distressed municipal bond investment strategy at Saybrook more than a decade ago. The municipal team will relocate to Kayne Anderson’s Los Angeles headquarters.
“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,” says Bob Sinnott (pictured), chief executive officer and chief investment officer of Kayne Anderson.
“Our shared investment philosophy and view of the markets as well as the sterling reputation of Kayne Anderson made the decision to move these strategies here a natural one,” says Schotz. “We will remain absolutely focused on investing in municipal bond issues in various stages of distress, and the new platform we’ve created with Kayne Anderson will give us access to increased distribution and synergies with Kayne’s other credit strategies. We look forward to being part of the new team.”