April 2 (Reuters) – Investment firm KKR said on Thursday it had raised $23 billion for its North America-focused private equity fund, the largest such fund the firm has devoted to the region.
The raise highlights continued investor demand for private market bets, as companies remain private longer and seek to avoid the volatility of public markets.
Some of the world’s most valuable companies, including OpenAI and prediction market platform Kalshi, have opted to stay private while still pulling in billions.
The KKR North America Fund XIV, or NAX4, will target opportunistic private equity investments across North America.
Over the past decade, NAX4’s three predecessor funds delivered a gross return of 23%. KKR’s private equity assets under management have since risen to about $229 billion, roughly doubling since 2020.
The fund attracted both new and existing investors, including public and private pension plans, sovereign wealth funds, insurers, endowments and foundations, and private wealth platforms, KKR said in a statement.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Tasim Zahid)
