KKR keeps collecting capital for €6bn Europe fund

The buyout firm is planning another close for its third Europe fund at the end of October, having already held a second close on €4.8bn.

Kohlberg Kravis Roberts, which last week announced intentions to list on the New York Stock Exchange later this year, is approaching a third close on its Europe III fund.

A source close to the situation said the third close would be held in October, and refuted recent press reports that the fund is unlikely to meet its €6 billion ($9.3 billion) target.

The fund, which began being marketed in April 2007, held a second close on €4.8 billion at the end of June 2008. Its limited partners include the Washington State Investment Board, historically one of KKR’s largest investors.

Last week KKR revealed that it is to acquire and de-list its Euronext-traded vehicle, KKR Private Equity Investors, and subsequently list on the New York Stock Exchange later in the year.

In March KKR closed its global buyout fund, dubbed KKR 2006, on approximately $17.6 billion, just short of the fund’s $18 billion hard cap. As well as its third European buyout fund, KKR is reportedly raising a $5 billion (€3.2 billion) infrastructure fund.