KKR Closes $13.9 Billion Americas Private Equity Fund
March 06 2017 - 6:59AM
Business Wire
Largest PE Fund Dedicated to Investing in
North America
Firm & Employees Demonstrate Alignment
through $1.4 Billion Commitment to the Fund
KKR, a leading global investment firm, today announced the final
closing of KKR Americas XII Fund (“the Fund”), a $13.9 billion fund
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 the Firm’s balance sheet and employee
commitments.
“As we mark this important milestone in our Americas private
equity business and close our 12th flagship private equity fund, we
are grateful to our investors, both old and new, for their
continued confidence in us. In today’s increasingly complex world,
we are pleased that they share our enthusiasm for the opportunities
that lie ahead in the Americas, in particular the U.S. where we
anticipate significant long-term investment opportunities and where
we have been investing for more than four decades and six economic
cycles,” said Alexander Navab, KKR Member and Head of Americas
Private Equity. “Throughout this period, we have invested through
economic challenges and volatility but have remained focused on
delivering top quartile performance. That continues to be our focus
as we work hard to support our investors’ goals and the needs of
their beneficiaries.”
Alisa Amarosa Wood, KKR Member and Head of Private Market
Products Group, added: “Our optimism about the future, our team,
and our belief that alignment is the best demonstration of our
partnership, is why KKR is committing more money into this fund
than any private equity fund in our history.”
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 business 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
the Firm’s industry expertise and operational capabilities to add
value beyond just providing capital. The Americas private equity
team consists of over 60 experienced investment professionals, and
is supported by over 20 operational executives in KKR Capstone.
Americas XII is the largest Americas-focused private equity
fund, according to data sourced from Preqin. It received strong
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 has been investing in North America since the Firm’s
establishment in 1976 and has been one of the most active private
equity investors, having completed or announced over 225
transactions with a total enterprise value of approximately $495
billion. Through 11 North America private equity funds, the Firm
has invested approximately $48.5 billion of equity in the Americas.
Since inception, KKR’s first 18 private equity funds have delivered
over two times total capital invested on a gross basis. This
corresponds to a cumulative Gross IRR of 25.6% (net IRR of 18.9%)
and a Gross multiple of 2.1x (net multiple of 1.9x). 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.
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners' capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR &
Co. L.P. (NYSE:KKR), please visit KKR's website
at www.kkr.com and on Twitter @KKR_Co.
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U.S.Kohlberg Kravis Roberts & Co. L.P.Kristi Huller
or Cara Kleiman, +1 212-750-8300media@kkr.com
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