KKR nets US$13.9b for new fund
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.