News & Analysis

KKR seeks up to $2bn for latest direct lending fund to hit the market

Rising rates – reinforced this week by the Federal Reserve’s vow to continue battling inflation – are motivating LPs to explore asset classes which provide some measure of refuge. One of the beneficiaries appears to be private debt.

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Private equity giant KKR is raising a fourth senior debt fund, as rate hikes encourage veteran direct lenders to bring fresh offerings to market.

KKR Lending Partners IV is targeted to secure $1.5 billion to $2 billion, according to materials prepared for Plymouth County Retirement Association.

A first close was held in mid-March, totaling about $334 million.

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