KKR, a global investment firm, completed a $6.5 billion fundraise focused on committing capital globally to privately originated and negotiated credit investments backed by large and diversified pools of financial and hard assets. The fundraise includes $5.6 billion in KKR Asset-Based Finance Partners II (ABFP II) and nearly $1 billion from separately-managed accounts focused on the same type of investment opportunities.
“The $6 trillion asset-based finance (ABF) market, projected to exceed $9 trillion by 2029, is one of the most dynamic opportunity sets today, yet it remains relatively undercapitalized,” Daniel Pietrzak, partner and global head of private credit at KKR, said. “ABFP II will help fill this gap by providing long-term capital to the real economy and offering investors a chance to diversify their portfolios with high-quality non-corporate collateral-backed cash flows.”
“Our extensive experience and global scale in ABF uniquely positions us to capitalize on the dynamic opportunities we see across various sectors and geographies,” Varun Khanna, Avi Korn and Chris Mellia, global co-heads of ABF at KKR, said. “At over 2.5x the size of its predecessor, ABFP II’s success is a testament to the confidence our investors place in our team to deliver compelling risk-adjusted returns. We are grateful for their continued support.”
ABFP II received support across a diverse group of new and existing investors globally, including public and corporate pensions, sovereign wealth funds, private banks, insurance companies, asset managers and family offices.
