Single-asset continuation fund deals have become so popular several mid-market investment banks have hired or are seeking talent to advise on such transactions.
Some public pensions seem to think any sunlight allowed on their private equity decision-making processes would cause irreparable damage to their ability to continue investing in the asset class.
The closing brings KKR’s Americas private equity platform to more than $90 billion in assets under management across flagship, growth and core investment vehicles.
Secondaries pricing has become uncertain with inflation, supply chain disruptions, geopolitical turmoil and rising interest rates causing public market volatility since the beginning of the year.
The process is among numerous single-asset deals that continue to drive secondaries market volume, even amid a slowdown in more traditional LP portfolio sales.