KKR closes Global Impact Fund on $1.3bn

The fund was launched at the beginning of 2018 with a €1bn target. It is managed by a global team of 12 professionals, led by KKR partners and global impact co-heads Robert Antablin and Ken Mehlman.

Investors
The fund received strong backing from a diverse group of new and existing global institutional investors, including public pension funds, family offices and high-net-worth individuals. KKR will be investing more than $130m in the vehicle from the firm's balance sheet and employee commitments.

Investments
KKR Global Impact Fund targets lower-mid-market companies based across the Americas, Europe and Asia that contribute measurable progress towards one or more of the United Nations' Sustainable Development Goals (SDG). The fund aims at generating private equity risk-adjusted returns by investing in opportunities where financial performance and societal impact are intrinsically aligned.

In particular, KKR has identified the following macro themes where it believes its fund can contribute meaningfully to helping achieve the SDGs: mitigating and adapting to climate change; protecting clean water; learning and workforce development; responsible waste management; leveraging technology to enhance safety, mobility and sustainability; serving globally conscious consumers healthier and more sustainable products and services; and upgrading declining industry and infrastructure.

The fund has already inked a number of deals across Asia and the US, including investments in Barghest Building Performance, a Singapore-based provider of energy-saving solutions for air ventilation systems; Indian recycling specialist Ramky Enviro Engineers; and US analytics software provider Burning Glass Technologies.

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