KKR hits $711m final close for NGT

NGTGF launched in March 2016 and held a first closing on $687m in November. The vehicle is the GP's first fund dedicated to growth investments in the technology, media and telecommunications (TMT) sectors.

Cleary Gottlieb Steen & Hamilton provided legal advice on fund formation, unquote" understands.

The fund is part of KKR's TMT private equity platform, led by Herald Chen and Richard Sarnoff in the American markets and Philipp Freise across the European market. More recently, the firm appointed David Welsh to its TMT growth strategy team in October 2016. Welsh joined from Adam Street Partners, where he worked as a partner in the growth equity and venture capital teams.

Investors
The fund raised committed capital from new as well as existing LPs, including public and corporate pensions, family offices and high-net-worth individuals. According to unquote" data, Bank of Singapore and several funds-of-funds also committed capital to the vehicle.

Investments
The vehicle targets companies beyond the startup phase, operating in the TMT sector. According to a statement, the fund seeks to invest with limited leverage and focus on business-to-business software, software-as-a-service, information technology automation, infrastructure, security, digital media and Internet-of-Things.

The fund managers will invest across the North American and European markets as well as in Israel.

People
KKR – David Welsh (managing director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• Venture
• KKR
• Late stage funding