KKR has wrapped up fundraising for its debut healthcare growth vehicle with $1.45 billion in commitments, including $265 million of the firm's own money. Led by unit head Ali Satvat, KKR will deploy the fund to make investments of up to $100 million across a variety of healthcare sectors.
The close continues a particularly prolific year for KKR on the fundraising trail: In the past 12 months, the firm has closed four private equity and growth funds with nearly $25.4 billion in combined commitments, as you can see here:
Those funds have contributed to what's so far been a massive 2017 for fundraising across private equity. Investors throughout the world have
closed 250 buyout funds this year, bringing in $257.3 billion in total capital commitments, according to the PitchBook Platform. That latter figure is already the most money raised by PE firms in any single year since 2007.
It's also been a banner year at KKR. The nearly $25 billion the firm has raised so far in 2017 alone is the most of
any year in firm history, again per PitchBook data.
For one of the busiest firms in the private equity industry, however, that's still not enough. In addition to unveiling its first healthcare growth fund, KKR has announced a new partnership with Ron Voigt to identify and acquire mid-market manufacturing companies with between $25 million and $50 million in EBITDA. Voigt is a former executive at Danaher, a designer and manufacturer of science and tech products.