Kayne Anderson forms merger player

Private equity giant Kayne Anderson has filed paperwork to raise up to $400 million for a publicly traded blank check company to hunt for potential merger opportunities in the US oilfields.

Kayne Anderson Acquisition is a special purpose acquisition company (Spac) with no assets of its own that will look to merge with another company in the upstream, midstream or downstream sector, the company said in a filing with the US Securities & Exchange Commission (SEC).