KKR held the final close of European Fund VI with $8 billion in investor commitments as company officials touted the potential in the region across key investment themes.
European Fund VI will be focused on private equity investments primarily in the developed economies of Western Europe. KKR’s strategy is to continue to invest alongside family owners, founders, entrepreneurs and corporates, providing flexible capital for strategic partnership transactions, platforms for expansion and corporate carve-outs.
“We look forward to supporting founders, family businesses, and companies looking for the right strategic partner to help take their business to the next level,” said Mattia Caprioli, co-head of KKR European Private Equity.
Based in London, Caprioli serves as a member of KKR’s European Private Equity Investment Committee and European Portfolio Management Committee. Since joining KKR in 2001, Caprioli has played a significant role in many investments including Sector Alarm, Walgreens Boots Alliance, Galenica, Avincis Mission-Critical Services, RigNet, PortAventura, United Group, Travelopia, A-Gas, Citation, ERM and GeneraLife. Prior to joining KKR, Caprioli was with Goldman Sachs International in London, where he was involved in a broad array of mergers, acquisitions and financings across a variety of industries.
The KKR European private equity platform totals $28.3 billion in AUM. The current portfolio, housed within KKR’s $165 billion global private equity business, includes investments in over 45 companies in Western Europe.
“KKR has been investing in Europe for nearly 25 years and we believe the opportunity today has never been greater,” said Philipp Freise, co-head of KKR European Private Equity. “We see enormous potential for transformational investment behind structural trends that are reshaping the European economy, including digitalization, healthcare and sustainability.”
KKR has expertise totaling 57 European private equity executives, 25 KKR Capstone Europe embers and additional professionals across eight European offices and the team is comprised of over 15 European nationalities.
“We’re delighted that our European team’s deep conviction in the investment opportunity ahead is shared by our investors, many of whom are not only choosing to reinvest but also to increase their commitment to our European franchise,” said Alisa Amarosa Wood, partner and head of KKR’s Global Private Markets and Real Assets Strategies Group. “Raising this fund in the current market environment demonstrates the strong investor confidence in our European team and platform, and our long track record of delivering value and outstanding results.”
The asset raise follows KKR’s previous European funds close in 2019 totaling $6.6 billion, which includes the firm’s own commitments. KKR said it will be making a significant commitment in the latest fund, investing over $1 billion alongside investors from the KKR’s balance sheet and employee commitments.
Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.