KKR has completed a first closing of its KKR Global Infrastructure Investors IV, with $14.2 billion in equity commitments, according to the transcript of a second-quarter earnings call.
Fund IV opened to investors in late 2020, and KKR set a $12 billion fundraising target for the fund in March. The vehicle will invest in infrastructure assets, such as oil and gas pipelines as well as renewable-energy projects.
The first close brings Fund IV to nearly twice the size of its predecessor fund, making it the largest in the entire fund series, by far. The fund’s predecessor, KKR Global Infrastructure Investors III, raised $7.4 billion in 2018, and KKR Global Infrastructure Investors II and KKR Global Infrastructure Fund raised $3.1 billion and $1 billi