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NEW YORK - Investment firm KKR (NYSE:KKR), a prominent player in the Capital Markets industry with a market capitalization of $134.5 billion and an InvestingPro Financial Health score of "GOOD," has completed a $6.5 billion fundraise for its asset-based finance strategy, the company announced in a press release Wednesday.
The fundraise includes $5.6 billion in KKR Asset-Based Finance Partners II (ABFP II) and nearly $1 billion from separately managed accounts targeting similar investment opportunities. The new fund is more than 2.5 times larger than its predecessor, reflecting the company’s strong market position and growth trajectory, with revenue reaching $20.3 billion in the last twelve months.
The capital will be deployed globally in privately originated and negotiated credit investments backed by pools of financial and hard assets. KKR’s asset-based finance portfolio focuses on four key areas: consumer/mortgage finance, commercial finance, hard assets, and contractual cash flows.
According to the company, the fund received support from a diverse group of investors including public and corporate pensions, sovereign wealth funds, private banks, insurance companies, asset managers, and family offices.
KKR established its asset-based finance strategy in 2016 and has grown it to approximately $74 billion in assets under management with a team of about 50 professionals globally. The firm maintains 18 captive platforms across its focus areas to source and structure investments.
The asset-based finance business operates two distinct investment approaches: an opportunistic strategy and a high-grade strategy focused on investment grade opportunities.
KKR (NYSE:KKR) currently manages approximately $254 billion in credit assets globally, including $117 billion in private credit and $129 billion in leveraged credit, according to the press release. With a current ratio of 1.7 indicating strong liquidity, the company appears well-positioned in the market, though InvestingPro analysis suggests the stock is trading above its Fair Value. Investors seeking deeper insights into KKR’s valuation and growth prospects can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, KKR has made significant moves across various sectors. The firm announced a commitment of A$500 million to CleanPeak Energy, an Australian renewable energy company, to enhance its distributed energy platform. This investment aims to bolster CleanPeak’s capabilities in solar, battery storage, and microgrid solutions, with the deal expected to finalize in 2025 pending regulatory approval. Additionally, KKR, in partnership with T-Mobile, has completed the acquisition of Metronet, a major independent fiber-to-the-home provider in the U.S., forming a joint venture to expand fiber deployment in underserved areas.
Furthermore, KKR has agreed to acquire a significant minority stake in the travel technology company Etraveli Group, although financial terms were not disclosed. The firm has also invested in SupplyHouse, an e-commerce platform for HVAC, plumbing, and electrical products, to support its growth strategy. In another development, KKR is reportedly considering acquiring Italian health-care technology company GPI SpA, as it explores taking the company private. These recent developments reflect KKR’s strategic investments across diverse industries.
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