The final closing of KKR North America Fund XIII (NAX3) attracted a record $19 billion in capital commitments, according to KKR.
Through the firm’s balance sheet, affiliates, and staff commitments, KKR will invest $2.0 billion in the fun, which will focus on seeking opportunistic private equity investments in North America alongside investors.
KKR has been investing in North America for almost 45 years. KKR has produced an average gross IRR of 30.1 percent (25.1 percent net) and a gross multiple on invested capital of 2.6x over the last decade and across NAX3’s two predecessor funds, KKR North America Fund XI and KKR Americas XII Fund (2.2x net).
In comparison to the S&P 500, this has resulted in a net outperformance of almost 850 basis points, despite the index’s near-unprecedented performance throughout the decade. The KKR Americas XII Fund, which began investing in 2017, has finally reached its target allocation.
As of December 31, 2021, it had a gross IRR of 50.1 percent (41.9 percent net) and a gross multiple of 2.6x (net 2.2x). KKR’s Americas Private Equity platform now has more than $90 billion in assets under management across flagship, growth, and core investment vehicles, according to the conclusion of NAX3.
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