KKR closes its biggest European buyout fund at $8bn

By Mark McSherry

US private equity giant KKR has announced the final closing of European Fund VI — which at $8 billion is KKR’s largest European private equity fund to date.

KKR said its European private equity platform, part of the firm’s $165 billion global private equity business, currently manages a combined $28.3 billion in assets under management.

The current portfolio includes investments in over 45 companies across Western Europe.

Through the Fund, KKR said it 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 said it will be making a significant commitment to the fund, investing over $1 billion alongside investors from the firm’s balance sheet and employee commitments.

Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

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.”

Mattia Caprioli, Co-Head of KKR European Private Equity, said: “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.”

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.”