KKR Closes $4.6 Billion Ascendant Fund
September 23, 2024The Fund is the first of its kind at KKR, targeting the large and fragmented North American middle market
KKR to support implementation of broad-based employee ownership and engagement programs in all control investments in the Fund
The Fund brings to bear KKR’s extensive and integrated Private Equity platform, breadth of resources, and depth of industry coverage on an attractive segment of the North American middle market. Building upon KKR’s 48-year history of investing in and evaluating companies of all sizes in
“We are very proud of the strong response we have received from our fundraising efforts and believe that Ascendant is well-positioned to address the robust and attractive opportunities in the North American middle market,” said
“Broad-based employee ownership and engagement programs are a key part of how KKR creates and maintains value across our portfolio companies. Having seen the great success of these programs in other areas of KKR’s portfolio, we are thrilled that Ascendant will build on that strong foundation,” said
To date, Ascendant has invested in six leading North American companies including Alchemer, 123Dentist, Industrial Physics, Potter Global Technologies, mdf commerce and Marmic Fire & Safety.
The Fund, which was oversubscribed and closed at its hard cap, received strong backing from a diverse group of new and existing global investors, including public pensions, family offices, insurance companies and other institutional investors.
Since 2011, KKR has supported companies in implementing broad-based employee ownership programs throughout our portfolio, first in our US Industrials private equity investments and now more broadly across sectors and regions. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. To date, more than 50 KKR portfolio companies have awarded billions of dollars in equity to over 110,000 non-senior management employees.
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
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