KKR Raises Record $19.2 Billion for New Infrastructure Fund Targeting North America and Europe

KKR, the global private equity firm, announced on Thursday that it has completed a record-breaking capital raise of $19.2 billion for its new infrastructure fund, Global Infrastructure Investors V. The fund will primarily invest in infrastructure assets across North America and Western Europe. This marks the largest fundraising effort ever by KKR for an infrastructure fund.

The surge in infrastructure fund capital raises in recent years reflects growing investor demand for assets aligned with clean energy transitions and digital infrastructure, particularly data centers, driven by rapid growth in artificial intelligence needs. Prior to this latest raise, KKR already managed $120 billion in infrastructure assets, making it one of the world’s largest infrastructure investors.

In the second quarter alone, KKR raised a total of $34 billion from investors, largely due to its real estate division, which includes infrastructure activities. Since inception, KKR has invested over $70 billion in infrastructure assets across North America and Europe. The new fund increases KKR’s total infrastructure fundraising in recent global rounds to $45 billion and has already committed over $9 billion to investments.

KKR plans to focus on infrastructure investments that provide essential services, benefit from high entry barriers, and are expected to generate stable cash flows over time. Vincent Policard, co-head of KKR’s European infrastructure division, emphasized the critical role of infrastructure investments in Europe’s competitiveness, energy security, and economic resilience.

Last week, KKR reported strong second-quarter financial results, surpassing analyst profit expectations due to increased management fees from asset growth and successful asset sales. In March, KKR sold the Israeli online marketplace Yad2 to Apax Partners for $950 million, further contributing to its financial performance.