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ARMONK, NY-Kayne Anderson Real Estate Advisors, based here, said Tuesday it had closed its third fund, Kayne Anderson Real Estate Partners III, at $750 million. The fund was significantly oversubscribed, exceeding its initial target of $700 million, and closed at its $750 million hard cap within five months of its launch, according to a release from KAREA.

The fund’s investor base includes a diverse mix of institutional investors, foundations, family offices and high-net worth individuals. “We’re very grateful for the strong support we’ve received from our investors and our partners at Kayne Anderson Capital Advisors,” Al Rabil, KAREA’s managing partner and CEO, says in a release. He adds that the strong response to the fund, and the company’s ability to raise it so quickly, “underscores investors’ confidence in our team and strategy.”

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