KKR Closes Record-Breaking $19.2B Global Infrastructure Fund
KKR's Global Infrastructure Investors V fund has reached a final close with $19.2 billion in commitments. The fund's significant size signals a major push into the global infrastructure market. The fund focuses on critical infrastructure assets.
KKR closed its fifth flagship infrastructure vehicle, Global Infrastructure Investors V, at $19.2 billion, the firm's largest infrastructure fund to date.
Despite the fund's name, its mandate is narrower than fully global: it targets infrastructure assets and businesses in North America and Western Europe. The close is part of roughly $45 billion KKR has raised across its latest infrastructure fund vintages.
More than $9 billion of the fund's capital is already committed across nine investments, including Sempra Infrastructure, Metronet, FiberCop, Enilive and data-center platform Global Technical Realty. The investor base spans pension plans, sovereign wealth funds, insurance companies, asset managers, private wealth platforms and family offices.
The close extends KKR's infrastructure platform to roughly $120 billion in assets under management, up from $13 billion in 2019. From here, watch the pace at which the remaining committed capital is deployed and how KKR's fundraising compares with rivals Blackstone and Brookfield in an increasingly competitive infrastructure market.
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