KKR raises US$400 million for global retail private equity fund

KKR has raised US$400 million for its international private equity fund for high net-worth clients, according to co-chief executive officer Joe Bae.

The firm started that fund, as well an infrastructure product, in recent months to complement existing offerings for individuals. KKR plans to launch its private equity fund for US retail investors in the current quarter, as well as an infrastructure fund for US individual investors, Bae said Thursday (Jun 1) at an investor conference.

About US$180 trillion of wealth is in the hands of individuals and households, and alternatives currently have just 1 per cent of that market share, he said. There’s potentially US$9 trillion to US$10 trillion of retail dollars migrating into the alternatives industry, Bae said.

“This is one of the most exciting long-term opportunities for our industry and for KKR in particular,” he said. BLOOMBERG