KKR Closes $2.8 Billion Global Impact Fund II
November 06 2023 - 7:00AM
Business Wire
Second Impact Fund More than Doubles Size of
First, Underscores Commitment to Contributing to the UN Sustainable
Development Goals
KKR, a leading global investment firm, today announced the final
closing of KKR Global Impact Fund II (“GIF II” or the “Fund”), a
$2.8 billion fund dedicated to investing in companies whose
products and services contribute measurable progress toward the
United Nations Sustainable Development Goals (“SDGs”). The Fund is
the successor fund to the first KKR Global Impact Fund.
“We launched KKR Global Impact in 2018 because we saw an
opportunity to invest behind proven companies that deliver
scalable, commercial solutions to global problems,” said Robert
Antablin, KKR Partner and Co-Head of KKR Global Impact. “Since
then, that opportunity set has continued to grow, and we are
thrilled with the outcomes our portfolio companies have been able
to achieve. We are grateful for the support of our investors who
share our conviction in this space, which we believe is well placed
given the strong performance of our first fund.”
Global Impact contributes to the SDGs by investing in companies
where financial performance and positive societal impact are
aligned, with a focus on four key investment themes: Climate
Action, Sustainable Living, Lifelong Learning, and Inclusive
Growth. These themes seek to address critical and locally-relevant
challenges, including climate change and its consequences, reliance
on non-renewable resources and increasing waste, lack of access to
quality education and the widening skills gap, and social and
economic inequality.
“Globally, there is increased urgency to solve some of the
world’s greatest challenges, such as the energy transition, supply
chain resiliency, digitization and a shortage of skilled workers.
For example, analysis by KKR Global Impact portfolio company
Lightcast found that the skills requested for the average U.S. job
have changed 37% since 2016, requiring a significant acceleration
of upskilling1,” said Ken Mehlman, KKR Partner and Co-Head of KKR
Global Impact. “We believe our Global Impact strategy is
well-positioned to invest behind these macro tailwinds.”
The dedicated KKR Global Impact team is comprised of more than
20 people and is supported by KKR’s full suite of global resources,
which allows the team to offer more than just capital to support
companies. Since its launch in 2018, KKR Global Impact has invested
in 18 companies including GreenCollar, CoolIT, Advanta, Lightcast
(formerly known as Emsi Burning Glass), and CMC Machinery.
The Fund received strong backing from a diverse group of new and
existing global investors, including public pensions, family
offices, insurance companies, and other institutional investors.
KKR will be investing $250 million of capital in the Fund alongside
investors through the Firm’s balance sheet, affiliates and employee
commitments.
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.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
____________________________ 1 Lightcast. “New Report Measures
Blazing Pace of Skills Change,” May 2022.
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