NET WORTH: $1.19 billion, estimated
SOURCE OF WEALTH: Kayne Anderson Capital Advisors
FUNDING AREAS: Education & Youth, Arts & Culture, Health & Human Services, Jewish Causes
OVERVIEW: Richard Kayne, his wife, Suzanne, and family move their philanthropy through the Kayne Foundation. The family's philanthropy focuses in on Los Angeles, where they live. Kayne has strongly supported his alma mater, UCLA. The Kaynes have also supported local education reform efforts. Other interests include arts and culture and Jewish causes. The foundation has a limited web presence and does not accept unsolicited proposals.
BACKGROUND: Richard Kayne earned a bachelor's in statistics from Stanford University in 1966 and an MBA from UCLA in 1968. Kayne began his career as an analyst in New York with Loeb, Rhodes & Co. He was a principal of Cantor Fitzgerald and went on to cofound Kayne Anderson in 1984, a Los Angeles-based manager of alternative investment strategies. Kayne is not on the Forbes billionaire list, but some sources refer to him as a billionaire.
EDUCATION & YOUTH: Kayne is strongly involved with his alma mater, UCLA, and he once chaired the investment committee of the UCLA Foundation. A few years ago, Kayne and his, wife, Suzanne gave a $5 million gift to create Suzanne Kayne Investment Management Specialization Program Fund at UCLA Anderson School of Management. Kayne cofounded Kayne Anderson with the late John E. Anderson, whose name adorns UCLA's business school.
Kayne also supports education reform efforts, primarily in Los Angeles. The family has strongly funded Camino Nuevo Charter Academy in Los Angeles, as well as supported KIPP LA Schools, Alliance for College Ready Schools, and Teach for America, among others. The Kaynes also support youth outfits like Baby2Baby, which "provides low-income children ages 0-12 with diapers, clothing and all the basic necessities that every child deserves"; Exceptional Children's Foundation; Big Brothers Big Sisters of Greater LA; and Westside Children's Center.
ARTS & CULTURE: Suzanne Kayne sits on the board of LACMA, which has received strong support. Other grantees have included Hammer Museum, Museum of Contemporary Art, Skirball Cultural Center, American Friends of the Israel Museum, Music Center Foundation, and Santa Monica Museum of Art. Several of the couple's kids are involved in the arts world, and one daughter Maggie has a gallery in Los Angeles.
HEALTH & HUMAN SERVICES: The Kaynes have supported health outfits like City of Hope, Women's Cancer Research Fund, and Women's Guild Cedars-Sinai. Human services grantees include Homeboy Industries, and Didi Hirsch Mental Health Services.
JEWISH CAUSES: The Kaynes also earmkark sums for Jewish causes. Kayne is Jewish and all of the couple's children were brought up as Jewish. Grantees have included Jewish Family Services, and Jewish Community Foundation. It's worth noting that another Kayne Foundation trustee, Howard Zelikow, is a strong supporter of L.A. area Jewish institutions himself.
LOOKING FORWARD: Its unclear how much money waits in the wings here, but expect this family's strong engagement in L.A. to continue. Down the line, we'll also have to keep appraised of the next generation of Kayne family philanthropy.
The Kayne Foundation does not provide a clear avenue for getting in touch with the family but below is an address: