Largest PE Fund Dedicated to Investing in North America
Firm & Employees Demonstrate Alignment through $1.4 Billion
Commitment to the Fund
NEW YORK–(BUSINESS WIRE)–
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, +1 212-750-8300
media@kkr.com
Source: KKR & Co. L.P.
