KKR closes European buyout fund at €5.8 billion

(Reuters) – Private equity firm KKR & Co (KKR.N) said on Tuesday it had closed its latest buyout fund European Fund V, which was focused on transactions in core Western Europe markets, at 5.8 billion euros (£5.01 billion).

New York-based KKR focuses on upper mid-market deals in the range of 500 million euros to 2 billion euros in equity value, with the ability to go higher selectively, like with the 6.8 billion euro deal for Unilever’s (ULVR.L) spreads business.

Out of the more than 140 limited partners that committed to the fund, 55% were from the Americas, 25% from Europe, Middle East and Africa and 20% from Asia.

They represent a mix of pension funds, insurers, sovereign wealth funds, high net worth individuals and family offices, a source familiar with the matter told Reuters.

KKR said it will invest $400 million of capital along with investors.

Its last fund Europe 4, which reached 3.4 billion euros in 2015, is fully deployed across 14 investments, with recent major exits including the Trainline (TRNT.L) and SoftwareOne SWON.S market debuts in the UK and Switzerland.

Reporting by Tanishaa Nadkar in Bengaluru and Pamela Barbaglia in London; editing by Arun Koyyur


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