Richard Farber - Managing Partner

Mr. Farber is a managing partner for the firm's marketable securities activities. He is responsible for trading and hedging, as well as the arbitrage, high-yield and closed-end fund strategies.

Prior to joining Kayne Anderson in 1995, Mr. Farber was vice president of Lehman Brothers' Commodity Risk Management Group from 1990 to 1994, specializing in energy trading and hedging. He also worked at Lehman Brothers as an institutional equity trader from 1988 to 1990. From 1985 to 1986, Mr. Farber was employed by Salomon Brothers, Inc. as a mortgage bond analyst.

Mr. Farber earned a B.A. in Economics from Franklin and Marshall College in 1982 and an M.B.A. in Finance from the UCLA Anderson School of Management in 1988.

J.C. Frey - Managing Partner

J.C. Frey joined Kayne Anderson in 1997, initially as controller of Kayne Anderson Capital Advisors and its former affiliate, Kayne Anderson Rudnick Investment Management. He assumed the additional responsibility of providing research coverage of a group of REIT and finance companies, some of with which he had prior audit experience while at KPMG Peat Marwick. He became a dedicated research analyst for Kayne Anderson Capital Advisors in 1998, responsible for high yield debt, REITs, and MLPs. In 2000, he became co-portfolio manager of the firm's newly launched multi-strategy fund, KACIP. Since 2003, he has managed KAMLP, a dedicated MLP investment partnership, one of the earliest of its kind. Since 2005, he has managed KAMEF, an offshore fund that was among the first to use total return swaps on MLPs.

In 2004, Mr. Frey was instrumental in the creation and initial public offering of Kayne Anderson MLP Investment Company (NYSE: KYN), an MLP-focused closed-end fund which is the largest publicly traded fund of its kind. He is an officer and co-portfolio manager responsible for public investments for KYN, as well as Kayne Anderson Energy Total Return Fund (NYSE: KYE), Kayne Anderson Energy Development Company (NYSE: KED) and Kayne Anderson Midstream/Energy Fund (NYSE: KMF), public funds which he helped create in 2005, 2006 and 2010 respectively.

Including the funds named above and others, Mr. Frey oversees nearly $8 billion in assets consisting of MLPs, energy debt, marine transportation and other energy equities. Several of the funds managed by Mr. Frey were nominated as finalists for the MarHedge Annual US Performance awards in 2005 and 2006, as well as a regular BarclayHedge monthly performance award winner. He has been quoted in numerous publications including Oil & Gas Investor, Workboat Magazine, MarketWatch.com, Money Central.com, Entrepreneur Magazine, and Research Magazine, and contributed a chapter to Hedge Fund of Funds Investing by Joe Nicholas, Chairman and CEO of HFR Group LLC.

Prior to joining Kayne Anderson in 1997, Mr. Frey was an audit manager in KPMG Peat Marwick's financial services group, specializing in banking and finance clients, and loan securitizations. Mr. Frey is a Certified Public Accountant. He earned a B.S. in Accounting from Loyola Marymount University in 1990 and a Master of Taxation from the University of Southern California in 1991.

David LaBonte - Partner, Senior Analyst

Mr. LaBonte is a partner and senior research analyst for the firm's marketable securities activities. Mr. LaBonte is responsible for equity research and analytics of energy-related master limited partnerships, oil and gas royalty trusts, companies engaged in coal production and marine transportation, as well as various other publicly traded companies in the energy and power industries.

Prior to joining Kayne Anderson in 2005, Mr. LaBonte was a managing director in the U.S. Equity Research Division of Citigroup/Smith Barney. He was responsible for providing research coverage of master limited partnerships, the coal industry and other midstream energy companies. Mr. LaBonte was named a top ranked research analyst for stock selection in polls by the Wall Street Journal and Forbes magazine. Mr. LaBonte has been credited for providing "groundbreaking research" of master limited partnerships by Gas Processor's Report, a leading industry publication. His research of master limited partnerships has also been featured in Barron's and Investor's Business Daily as well as Fortune, Individual Investor, and Smart Money magazines. Prior to joining Citigroup/Smith Barney in 1998, Mr. LaBonte was a vice president in the Investment Management Group of Wells Fargo. He was responsible for equity research coverage of U.S. companies in the natural gas pipeline industry.

Mr. LaBonte earned a B.S. in Finance from the California State Polytechnic University, Pomona in 1993. He is a member of the CFA Institute and the New York Society of Security Analysts.

Marc Minikes, CFA - Research Analyst

Mr. Minikes is a research analyst for the firm's marketable securities activities. He is responsible for providing research coverage of the electric utility, power generation, and marine transportation industries.

Prior to joining Kayne Anderson in 2006, Mr. Minikes was a member of the electric utility equity research team at Citigroup Investment Research. Between 2002 and 2004 he worked as a research analyst at GE Asset Management where he focused on high-yield securities in the utility, merchant power and pipeline sectors. Prior to that, Mr. Minikes worked as a market risk analyst at RBC Capital Markets where he focused on event driven and convertible arbitrage trading strategies. Mr. Minikes was also a financial analyst at Lehman Brothers where he supported the U.S. convertibles trading desk.

Mr. Minikes earned a B.A. in History from the University of Michigan in 1992, an M.A. in Latin American Studies from the University of California at Los Angeles in 1996 and an M.B.A. in Finance and Economics from the University of Chicago in 2002. Mr. Minikes is a CFA charterholder.

Michael Schimmel - Research Analyst

Mr. Schimmel is a research analyst for the firm's marketable securities activities and is responsible for analysis of convertible and high-yield securities.

Prior to joining Kayne Anderson in 2005, Mr. Schimmel was an analyst/trader at Akanthos Capital Management, LLC, a Los Angeles based hedge fund that specializes in convertible arbitrage and capital structure arbitrage. From 1994 to 1999 and from 2001 to 2003, he worked as a high-yield analyst at Trust Company of the West, where he followed the chemical, paper/packaging, telecommunications tower, waste management and lodging/leisure industries.

Mr. Schimmel earned a B.A. in Economics from Pomona College in 1993 and an M.B.A. from the UCLA Anderson School of Management in 2001.

David Schumacher, CFA - Research Analyst

Mr. Schumacher, CFA is a research analyst for the firm's marketable securities activities and is responsible for high-yield security analysis.

Prior to joining Kayne Anderson in 2007, Mr. Schumacher was a high-yield analyst at Trust Company of the West following the chemical, refining, healthcare, paper/packaging, industrial, and service industries. From 2003 to 2005, he worked as a high-yield analyst at Caywood-Scholl Capital Management, a San Diego based high yield bond manager.

Mr. Schumacher earned a B.A. in Public Policy Analysis and Chemistry from Pomona College in 1994 and an M.B.A. from the UCLA Anderson School of Management in 2003.

Adam Hauptman, CFA - Research Analyst

Mr. Hauptman is a research analyst for the firm's marketable securities activities and is responsible for analysis within the closed-end fund strategy.

Prior to joining Kayne Anderson in 2007, Mr. Hauptman was an analyst, trader and portfolio manager at Solios Asset Management, LLC, a Cambridge, MA-based hedge fund that specializes in equity, commodity and statistical arbitrage strategies in the energy and natural resources sectors. He has also worked for four years as a consultant for Levitan & Associates, a management consulting firm, where he performed energy asset valuations, natural gas midstream asset operational and economic analysis, and wholesale power and natural gas market simulations for various clients.

Mr. Hauptman earned a B.Sc. in Mathematics and a B.Sc. in Philosophy from MIT in 2001, and he is a CFA charterholder.

Justin Campeau - Research Analyst

Justin Campeau, is a research analyst for the firm's marketable securities activities and is responsible for equity and high yield debt analysis.

Prior to joining the marketable securities group in 2010, Mr. Campeau was an associate in Kayne Anderson's Houston office, where he supported the private equity investing activities of KYN, KYE, KED and KA First Reserve funds.

Mr. Campeau earned a Bachelor of Commerce from McGill University in 2006.

David Dunning - Research Analyst

Mr. Dunning is a research analyst for the firm's marketable securities activities. He is responsible for providing research coverage of the marine transportation and Canadian energy industries.

Prior to joining Kayne Anderson in 2008, Mr. Dunning held internships with John S. Herold, an exploration and production equity research company, Quintana Energy Partners, Quintana Maritime and Neuberger Berman.

Mr. Dunning earned a B.A. in History from the University of Pennsylvania in 2008.

Leonard Green - Senior Trader

Mr. Green is a senior trader for Kayne Anderson Capital Advisors. He is responsible for proprietary trading and portfolio analysis across various investment disciplines and asset classes.

Prior to joining Kayne Anderson in 1998, Mr. Green was a vice president with UBS Asset Management from 1997 to 1998, specializing in equity research and portfolio management. From 1993 to 1996, Mr. Green worked as an institutional equity trader with Morgan Stanley. From 1988 to 1991, Mr. Green was an analyst in corporate finance with Bear Stearns.

Mr. Green received a B.A. in International Relations from the University of Southern California in 1988 and an M.B.A. in Finance from the Harvard Business School in 1993.

Mark Noonen - Trader

Mr. Noonen is a trader for Kayne Anderson Capital Advisors. He is responsible for the midstream energy sector.

Prior to joining Kayne Anderson in 2004, Mr. Noonen served a number of roles at Trust Company of the West (TCW) from 1996 to 2004. The most recent 4-years at TCW, Mr. Noonen was an equity trader responsible for convertible strategy and program trading.

Mr. Noonen earned a B.S. in Finance from the University of Colorado in 1994.

Joanna Grzeskowiak - Trader

Ms. Grzeskowiak is a trader for Kayne Anderson Capital Advisors. She is responsible for the shipping and coal sectors, Canadian royalty trusts, and BDCs (business development companies).

Prior to joining Kayne Anderson in 2006, Ms. Grzeskowiak was a market maker at Knight Capital Group trading the software and semiconductor sectors. From 2002 to 2004, Ms. Grzeskowiak worked in the Equity Research department at J.P. Morgan Securities covering the semiconductor capital equipment sector.

Ms. Grzeskowiak earned a B.A. in Economics from the University of California at Los Angeles in 2002.

Gary Ghazarian - Partner, Risk Management

Mr. Ghazarian is a partner for Kayne Anderson Capital Advisors, and is responsible for risk management of the firm's marketable securities activities.

Prior to joining Kayne Anderson in 2004, Mr. Ghazarian was a senior vice president with our former affiliate Kayne Anderson Rudnick Investment Management, where he was responsible for institutional client relations and marketing. From 1995 to 2000, he was a vice president for Wilshire Associates, responsible for fixed-income analytics and consulting.

Mr. Ghazarian earned a B.A. in Economics from the University of California, Los Angeles in 1988 and an M.B.A. from the University of Southern California in 1995.