KKR & Co. is nearing a final close of $7 billion in investor cash for its third infrastructure fund, according to its second quarter 2018 earnings report.
KKR Global Infrastructure Investors III has raised $6.96 billion in commitments as of the end of the second quarter.
KKR launched the fund in September 2017. The fund has a $7 billion hard cap with an established $5 billion target. It is targeting net returns between 10 percent and 13 percent.
The new fund will predominantly invest in brownfield assets in OECD countries across the transport, telecoms, power and renewables sectors.
Recently, the $201.2 billion New York State Common Retirement Fund committed $400 million to KKR Global Infrastructure Investors III.
