KKR closes Health Care Strategic Growth Fund II on $4bn, almost 3x fund I

Jan 10, 2022 | News

Global buyout giant KKR has closed KKR Health Care Strategic Growth Fund II on $4bn, just shy of tripling the size of its $1.45bn predecessor fund I which was closed in 2017.

The vehicle will be dedicated to health care growth equity investments in North America and Europe. The firm said it will invest in innovative health care companies with proven products and services that are seeking a partner to commercialize and scale, focusing in biopharmaceutical, medical device, health care services, life science tools / diagnostics, and health care information technology sub-sectors.

Ali Satvat, partner, global head of health care strategic growth, and co-head of Americas health care private equity at KKR, said, “Now more than ever there is a significant demand both for innovative products and services in the health care sector and for an experienced and flexible capital partner to invest in their growth and further their reach.

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“Building on the robust momentum and tangible results that we have achieved thus far through HCSG I, we look forward to continuing to partner with best-in-class health care businesses to bring these much-needed products and services to market for the benefit of patients globally while delivering strong returns for our investors.”

KKR has made $18bn of investments in the health care industry since 2004, including buying into Argenta, Nordic Bioscience, Sapphiros, Geode Health, and Cordis last year.

The firm has also pulled in $16.8bn for its mammoth new North America Fund XIII fundraise in November and closed its third US-focused opportunistic real estate fund on $4.3bn in October.

Source: Alt Assets

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