Global investment firm KKR closed KKR Americas XII Fund, at $13.9 billion, focused on opportunistic investments in private equity-related transactions primarily in the United States, Canada and Mexico.
KKR will be investing nearly $1.4 billion in capital alongside investors through its balance sheet and employee commitments. The fund also received backing from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices and high net worth individual investors.
KKR’s Americas private equity platform invests across seven industry teams, including Energy; Financial Services; Healthcare; Industrials; Media & Communications; Retail and Consumer; and Technology sectors.
In addition to traditional management buyouts and build-ups, the firm seeks to find opportunities to provide growth capital, as well as minority investments, and public toehold investments where KKR can partner with public companies, leveraging its industry expertise and operational capabilities to add value beyond capital.
The Americas private equity team consists of over 60 investment professionals, and is supported by over 20 operational executives in KKR Capstone.
The predecessor fund of Americas XII, KKR North America Fund XI began investing in late 2012 and is now fully deployed. It has generated a Gross IRR of 24.0% (net IRR of 18.1%) and a Gross Multiple of 1.5x (net multiple of 1.4x) as of December 31, 2016.
With the closing of this fund, KKR’s Americas private equity business manages approximately $36 billion in assets under management.