KKR closes USD 4bn healthcare fund

Health Care Strategic Growth Fund II (HCSG II) is the successor to HCSG I, which closed in November 2017 on USD 1.45bn. 

KKR stated that the fund will focus on the biopharmaceutical, medical devices, healthcare services, life sciences tools and diagnostics, and healthcare information technology sub-sectors.

The PE firm added that the fund is backed by new and existing LPs, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth and fintech platforms, family offices, and high-net-worth individual investors. 

KKR will invest USD 500m of its own capital into the fund. The firm has invested USD 18bn in healthcare since 2004. 

In 2021, KKR acquired New Zealand-based animal-health pharma platform Argenta and US medical devices maker Cordis. It also took a minority stake in Denmark-based Nordic Bioscience and invested in US-based Sapphiros.

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