KKR’s second impact fund has raised $1.98 billion as of 31 December 2022, according to the firm’s year-end results published this week. This means Global Impact Fund II has received $100 million in commitments since its second close in October 2022.
KKR has not disclosed a target for the vehicle. It was registered in June 2021 and reached a second close at $1.88 billion in October 2022. KKR aims to reach a final close in Spring 2023, a source familiar with the strategy told New Private Markets last year. KKR declined to comment on fundraising plans or progress.
KKR’s general partner commitment to the fund is 7 percent and the firm has not yet called any investor capital to invest, the year-end results show.
KKR’s first impact fund closed at $1.3 billion in February 2020, above its $1 billion target, after launching in August 2018. KKR committed 8 percent of the fund, which is nearly fully invested, with $250 million remaining in uncalled commitments.