KKR nets US$13.9b for new fund

New Straits Times - - Business World -

KKR & Co amassed US$13.9 bil­lion (RM61.8 bil­lion) for its lat­est pri­vate eq­uity fund, the most ever raised for a buy­out pool focused on North Amer­ica.

The firm gath­ered the max­i­mum US$12.5 bil­lion agreed to with in­vestors and added US$1.4 bil­lion from its bal­ance sheet and em­ploy­ees, ac­cord­ing to a state­ment from KKR on Mon­day.

The fund will tar­get tra­di­tional buy­outs as well as mi­nor­ity stakes, growth in­vest­ments and toe-hold po­si­tions in pub­lic com­pa­nies, said KKR.

Pri­vate eq­uity firms raised US$589 bil­lion of cap­i­tal last year, ac­cord­ing to Bain & Co’s global pri­vate eq­uity re­port pub­lished last week.

While that’s two per cent less than in 2015, the in­dus­try has con­tin­ued to raise more than US$500 bil­lion ev­ery year since 2013 as in­vestors seek to re­de­ploy money re­turned to them from prof­itable deals.

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