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#3 -_ 1 (1)

July 30, 2025

Source: Pitchbook

KKR has closed on a $6.5 billion fundraise for its asset-based finance strategy.

The fundraise includes $5.6 billion raised for KKR Asset-Based Finance Partners II and nearly $1 billion in separately managed accounts focused on the same type of investments, according to a July 30 company statement.

KKR said that the new fund would be more than twice as large as its predecessor, KKR Asset-Based Finance Partners I.

The fund is focused on investing in credit investments backed by pools of financial and hard assets. The firm segments its ABF portfolio into four key themes: consumer and mortgage finance, commercial finance, hard assets, and contractual cash flows.

Fund investors included public and corporate pensions, sovereign wealth funds, private banks, insurance companies, asset managers, and family offices.

KKR’s global head of private credit, Daniel Pietrzak, called the $6 trillion asset-based finance market “relatively undercapitalized,” pointing to forecasts that the market could exceed $9 trillion by 2029.