KKR & Co. has attracted a combined $400 million from the National Pension Service and Korea Post for its latest flagship fund that raised $18.5 billion at its final close.
The NPS has committed $300 million and Korea Post $100 million to KKR North America Fund XIII, according to investment banking sources on May 21. It is the US investment firm's largest buyout fund since its $17.6 billion fund launched in 2006.
Its two prior funds focused on North America -- the $13.9 billion KKR Americas XII and the $9 billion KKR North America Fund XI -- had returned 1.42 times and 2.08 times their investors’ money, respectively, as of September, according to a Reuters report.
In January this year,
KKR Asia Real Estate Partners had raised around $400 million from the NPS and a few other Korean institutional investors. The fund made its final close at $1.7 billion for opportunistic investments.
Almost simultaneously,
KKR Asia Pacific Infrastructure Investors had received $130 million in commitments from the Korean Teachers' Credit Union and other Korean firms. The US buyout firm's inaugural Asia infrastructure fund wrapped up its fundraising at $3.9 billion in January.
Write to Jun-ho Cha and Jung-hwan Hwang at
chacha@hankyung.comYeonhee Kim edited this article.