Global asset manager fills giant impact fund

The doors are officially shut on KKR's USD$1.3 billion global impact fund, with the firm itself tipping in around 10% of the funds invested.

KKR has announced the final closing of the KKR Global Impact Fund, which is dedicated to investing in companies with core business models which provide commercial solutions to environmental and social challenges, potentially including some Australian firms.

The firm said the fund - which attracted support from a "diverse" set of investors, including pension funds, family offices and high net-worths - was focused on identifying and investing in opportunities where financial performance and societal impact are "intrinsically aligned".

"Specifically, the Fund is focused on generating private equity risk-adjusted returns by investing in companies in the lower middle market that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals," KKR said.

Financial Standard understands Australia is included in the fund's geographic focus, with the firm's regional impact team set to work with KKR's Sydney-based investment professionals to look into local investment opportunities.

KKR partner and had of the firm's private markets group Alisa Amarosa said KKR had been encouraged by investor enthusiasm towards the fund.

"We are thrilled to see our investors' shared enthusiasm for the tremendous opportunity we see ahead for KKR Global Impact and will build on this to help set the new standard across investing, value creation and measuring success in the space," Amarosa said.

That enthusiasm has been matched by the firm itself, with USD$130 million in funds added to the pool through its balance sheet and employee commitments.

KKR partners and co-heads of KKR Global Impact Robert Antablin and Ken Mehlman said that as investors, the firm had "a significant role to play in building businesses that contribute to SDG solutions," while also generating financial returns for its investors by doing so.

Read more: KKR Global ImpactKKR Global Impact FundAlisa AmarosaFinancial StandardKen MehlmanRobert AntablinSDGUnited Nations Sustainable Development Goals
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