KKR Secures $11 Billion for Global Infrastructure Fund, Surpassing Halfway Mark

KKR & Co. Secures $11 Billion for Global Infrastructure Fund, Surpassing Halfway Mark

KKR & Co. has successfully raised $11 billion for its latest global infrastructure fund, marking a significant stride toward its $20 billion target. The fundraising efforts for KKR Global Infrastructure Investors V commenced in November, with the firm yet to finalize its first close. Raj Agrawal, KKR’s global head of infrastructure, highlighted the impressive track record of the firm's infrastructure investments, citing gross internal rates of return (IRRs) of 17.6% for the first fund and 19.7% for the second. Despite the third fund's fewer exits, Agrawal anticipates it to perform comparably to its predecessors. KKR's infrastructure business has witnessed substantial growth, ballooning from $13 billion in 2018 to $59 billion, as noted by Co-Chief Executive Officer Joe Bae during the investor day event.