KKR raises €5.8bn

The global investment firm closes fifth flagship European buyout fund.

KKR has held a final close of its European Fund V at €5.8 billion, surpassing its initial target of €5 billion. The fund is focused on private equity-related transactions in the Western European market. Through its latest fund, KKR will continue to invest across its priority sectors: TMT, consumer, retail, business services, financial services, industrials and healthcare.

Commitments to the fund include $300 million from the California Public Employees’ Retirement System, $125 million from the State of Michigan Retirement Systems and $100 million from the Minnesota State Board of Investment.

The fund’s predecessor, KKR European Fund IV, closed at €3.54 billion in December 2015.