KKR has raised $6 billion for its KKR Global Infrastructure Investors III to date, which has already surpassed its initial $5 billion target. The fund’s hard-cap was set at $7bn. The fund is targeting investments in core and core-plus infrastructure assets primarily in OECD countries.
Investors in the fund include Merced County Employees Retirement Association, New York State Common Retirement Fund and Minnesota State Board of Investment, who committed $5 million, $400 million and $150 million, respectively.
The fund’s predecessor, Global Infrastructure Investors II, closed on $3.1 billion in 2015, is roughly 75 percent invested.