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KKR Closes Sixth European Private Equity Fund at $8.0 Billion
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
KKR has announced the final closing of its largest European Private Equity fund, European Fund VI, with total commitments of $8.0 billion. This fund surpasses the previous $6.6 billion fund raised in 2019. Focused on private equity investments in Western Europe, the fund seeks to capitalize on structural market trends like digitalization and healthcare. KKR plans to invest over $1.0 billion alongside its investors. With a strong team of over 100 professionals and a combined $28.3 billion in assets under management, KKR aims to support founders and family businesses across Europe.
Positive
KKR's European Fund VI has raised a record $8.0 billion, indicating strong investor confidence.
KKR plans to invest over $1.0 billion from its balance sheet into the Fund.
The European Private Equity platform manages a total of $28.3 billion in assets, enhancing KKR's market positioning.
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None.
NEW YORK & LONDON--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced the final closing of European Fund VI (“the Fund”). At $8.0 billion, it is KKR’s largest European Private Equity fund to date, following the $6.6 billion fund in 2019, inclusive of the GP commitment. The new Fund will be focused on private equity investments primarily in the developed economies of Western Europe.
Philipp Freise, Co-Head of KKR European Private Equity, said, “KKR has been investing in Europe for nearly twenty-five years and we believe the opportunity today has never been greater. We see enormous potential for transformational investment behind structural trends that are reshaping the European economy, including digitalization, healthcare and sustainability.”
Co-Head of KKR European Private Equity Mattia Caprioli added, “We look forward to supporting founders, family businesses, and companies looking for the right strategic partner to help take their business to the next level.”
KKR’s successful track record in Europe is based on a combination of a strong on-the-ground presence and expertise with additional access to the global network and resources that the firm offers. Over 100 professionals, including 57 European Private Equity executives, 25 KKR Capstone Europe members, and additional professionals across KKR Capital Markets, Public Affairs and KKR’s EMEA Macro team, work across eight European offices and comprise over 15 European nationalities, providing deep local market knowledge to portfolio companies. This expertise is supplemented by KKR’s global network drawing on the knowledge and skills of additional members across the firm, including the KKR Global Institute and KKR’s Senior Advisors.
Alisa Amarosa Wood, Partner and Head of the Global Private Markets and Real Assets Strategies Group at KKR, said, “We’re delighted that our European team’s deep conviction in the investment opportunity ahead is shared by our investors, many of whom are not only choosing to reinvest but also to increase their commitment to our European franchise. Raising this fund in the current market environment demonstrates the strong investor confidence in our European team and platform, and our long track record of delivering value and outstanding results.”
Through the Fund, KKR will continue to invest alongside family owners, founders, entrepreneurs and corporates, providing flexible capital for strategic partnership transactions, platforms for expansion and corporate carve-outs. KKR will be making a significant commitment to the Fund, investing over $1.0 billion alongside investors from the Firm’s balance sheet and employee commitments.
KKR’s European private equity platform, which is part of the firm’s $165 billion global private equity business, is currently managing a combined $28.31 billion in assets under management. The current portfolio includes investments in over 45 companies across Western Europe.
Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
1 Europe Private Equity, Core and Growth AUM as of 31st December 2022
