KKR closes sixth European private equity fund with USD 8.0 billion
New York & London — KKR, a leading global investor, has announced the final closing of European Fund VI (the “Fund”). At $8.0 billion, including the commitment from KKR itself, it is KKR’s largest European private equity fund to date, followed by the $6.6 billion fund launched in 2019. The new fund will focus on private equity investments, mainly in economically strong regions of Western Europe.
Philipp Freise Photo (© KKR), Co-Head of European Private Equity at KKR, said, “KKR has been investing in Europe for nearly 25 years and we believe the opportunities are greater today than ever before. We believe the European economy offers tremendous potential for transformative investments in the context of structural trends, such as digitalization, healthcare and sustainability.”
Mattia Caprioli, Co-Head of European Private Equity at KKR, added: “We look forward to supporting founders, family businesses and corporates as a strategic partner helping them take their business to the next level.”
Christian Ollig, Partner and Head of DACH at KKR, said: “Since 1999, we have invested more than €15 billion in over 30 long-term oriented corporate investments in Germany, Austria and Switzerland. The DACH region is a key anchor for KKR in Europe, and our latest fund is a strong demonstration of our consistent commitment to the region. We look forward to the opportunities presented by working with potential partners and the resources of the new fund.”
KKR’s success in Europe is based on a combination of a strong local presence and expertise and access to a global network and resources. More than 100 employees, including 57 European private equity executives, 25 members of KKR Capstone Europe and other experts from KKR Capital Markets, Public Affairs and the EMEA Macro team support the portfolio companies with their in-depth local market expertise. The team is represented in over eight different European offices and brings together a total of more than 15 European nationalities. This expertise is complemented by KKR’s global network. This draws on the knowledge and skills of the KKR Global Institute and KKR’s senior advisors, among others.
Alisa Amarosa Wood, Partner and Head of Global Private Markets and Real Assets Strategies Group at KKR, said, “We are pleased that our investors share our European team’s belief that there are excellent investment opportunities in Europe. Many investors have chosen not only to reinvest, but also to increase their exposure to our European business. The placement of this fund in the current market environment demonstrates the strong confidence investors have in our European team and platform, as well as our long track record of delivering value and outstanding results.”
Through the fund, KKR will continue to invest alongside family owners, founders, entrepreneurs and companies, providing flexible capital for strategic partnerships, platform expansion and carve-outs. In addition to investors, KKR itself will make a significant investment in the fund, investing a total of more than $1 billion in balance sheet funds and employee stock options.
KKR’s European private equity platform currently manages total assets of $28.3 billion1 and is part of its $165 billion global private equity business. The current portfolio includes investments in over 45 companies in Western Europe.
Debevoise & Plimpton LLP acted as primary legal counsel to KKR in the fundraising process.
KKR is a leading global investor providing alternative asset management, capital markets and insurance solutions. The focus is on generating attractive investment returns through a long-term and disciplined investment approach, employing highly skilled professionals and supporting growth at its investment properties and in the communities where KKR has a presence. KKR finances funds that invest in private equity, credit products, real assets, and — through strategic partners — hedge funds.