KKR Closes Record $19.2B Infrastructure Fund, Its Largest Ever
KKR has closed its fifth global infrastructure fund with $19.2 billion in commitments, marking the investment firm’s largest infrastructure fundraise to date.
KKR Global Infrastructure Investors V will pursue Core+ investments in critical infrastructure assets and businesses, primarily across North America and Western Europe. The fund contributes to approximately $45 billion raised across KKR’s latest generation of infrastructure vehicles worldwide.
“Demand for infrastructure investment across North America continues to accelerate as digitalization, electrification and industrial growth reshape the economy,” said Brandon Freiman, head of North American infrastructure at KKR.
Freiman said meeting that demand will require substantial long-term capital, positioning KKR to partner with companies and asset owners investing in the infrastructure needed to support economic growth.
Fund V has already committed more than $9 billion across several investments, including Altitude III, EDF power solutions North America, Enilive, FiberCop, Global Technical Realty, Gulf Data Hub, Metronet, Sempra Infrastructure and The Parking Spot.
The fund received commitments from new and existing investors, including pension plans, sovereign wealth funds, insurance companies, asset managers, private wealth platforms and family offices.
Founded in 2008, KKR’s infrastructure business manages approximately $120 billion in infrastructure equity, up from $13 billion in 2019. The platform has completed more than 100 investments and employs about 160 infrastructure executives globally.
KKR has committed more than $70 billion of equity through its infrastructure strategies in North America and Europe.
Debevoise & Plimpton served as KKR’s primary fund counsel for the fundraising.
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