Fundraising

The funds will complement the GP stakes business, which co-president Michael Rees called 'one of the most underpenetrated spaces in all of alternatives'.

The investment firm is in market with its debut growth fund focused on Europe with a €2bn target.

MED III holds a final close.

The alternatives giant expects to have a 'fully ramped up retail distribution business' in place for the launch of its next private equity flagship, it disclosed on Wednesday.

KKR's fundraising has 'exceeded expectations' and is on track to beat the firm's two-year target of at least $100bn, said CFO Robert Lewin.

Details of COO David Breach's appointment to the role were disclosed in a letter to investors seen by Private Equity International.

MSA received a fundraising boost last year with the appointment Chris Lerner, former head of Asia at placement agent Eaton Partners, as a managing partner.

The buyer would join Singapore's GIC and the Kuwait Investment Authority which acquired part of a 10% stake in the buyout stalwart in 2012.

The firm brought in $10.4bn during the second quarter, more than double the amount it raised in Q2 2020.

Both firms disclosed first closes on Tuesday for market-leading fundraises focused on investments that will address the climate crisis.