KKR targets $15B for next North America buyout fund

KKR plans to raise $15 billion or more for its 13th private equity fund focused on North America, according to Reuters, in what would mark the second-largest vehicle in the firm’s history.

The fund would surpass a predecessor that closed on $13.9 billion in 2017 but trail a 2006 fund that brought in a firm-record $17.6 billion.

That latter vehicle finished in the top quartile of its benchmark, according to PitchBook data.

KKR has had an active start to 2021. Earlier this month, it agreed to sell semiconductor maker Kokusai Electric to Applied Materials for $3.5 billion. The firm also agreed to acquire a majority stake in the music catalog of OneRepublic and lead singer Ryan Tedder for a reported price of almost $200 million.

Bloomberg reported that KKR is considering a bid to acquire a stake in Saudi Aramco‘s oil pipelines business in a deal that could be worth around $10 billion.

Source: Pitchbook