Justin Slaughter
The asset manager ended Q1 with ‘near record’ of $21.8bn in dry powder.
Fresno, California public pension has already committed $150m to the new fund.
The CIP VI, a hybrid equity and credit fund, is the third vehicle the global asset manager has closed in 2017.
The new Lending Partners fund follows the dip in KKR’s private debt fundraising last year.
The Maryland-based firm will continue to manage the American Capital Equity III fund after the Ares acquisition, but under a new name.
Dan Rudgers will join the global placement agent focused on private funds to manage its US and Canadian business.