(Bloomberg) -- KKR & Co. raised $18.5 billion for the latest and largest version of its flagship North America buyout fund, according to people familiar with the matter.
The New York-based firm has been among the most active dealmakers during the Covid-19 pandemic, investing through the downturn to avoid mistakes it made in the aftermath of the 2008 financial crisis.
The fund is still months away from a final close, said the people, who asked not to be named as the matter is private. The KKR North America Fund XIII raised $17 billion from external investors and the remainder from employees, the people said. Its prior fund, KKR Americas XII Fund, raised $13.9 billion in 2017.
Reuters reported earlier on the fundraising.
The firm took in a record $44 billion last year as investors sought higher-yielding assets, and aims to raise more than $100 billion by 2022. It expects to reach its goal by raising $40 billion to $50 billion in private equity, $15 billion to $20 billion in infrastructure, $10 billion to $15 billion in real estate and $20 billion to $25 billion in credit.
A spokeswoman from the firm declined to comment.
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