Kayne Anderson AUM Drops 58.1% as Three $1B+ Advisers Exit the SEC Registry
As seen on the 24/7 Wall St. homepage on November 5, 2026.
Kayne Anderson Capital Advisors reported assets falling 58.1% to $14.3 billion, and three firms running $1 billion or more withdrew their registrations entirely, even as the $1B+ adviser count holds at 5,390.
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Kayne Anderson Capital Advisors reported assets under management down 58.1%, one of the most striking single-firm moves in the November 2026 SEC Form ADV data release. A drop of that magnitude from a firm of Kayne Anderson's standing draws attention from anyone tracking where large pools of capital are going.
Three separate firms that each managed $1 billion or more withdrew their SEC registrations entirely during the same period. Deregistration means a firm stops filing Form ADV, typically after moving to state-level oversight or winding down its advisory business. Three simultaneous exits at that tier is an unusual clustering.
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Despite those withdrawals, the total count of SEC-registered investment advisers managing $1 billion or more held steady at 5,390. That flat reading suggests the exits were offset by other firms crossing into the $1 billion tier for the first time or by existing advisers reporting updated figures that pushed them above the threshold.
The broader dataset shows aggregate assets across all registered investment advisers at $177.9 trillion, unchanged from the prior month. That flat headline figure means the Kayne Anderson decline and the three deregistrations did not move the overall needle, but they are worth monitoring as individual data points within a registry that the SEC updates on a rolling basis.