KKR has closed its debut Global Impact Fund on $1.3 billion, which the firm will use to target companies aiming to provide commercial solutions to environmental or social challenges. Climate change, water cleanliness, workforce development and waste management are just some of the topics KKR plans to focus on.
Many of the firm’s biggest rivals have recently raised impact funds or launched new impact strategies. These include:
- TPG Growth which closed its debut impact vehicle, called The Rise Fund, on $2.1 billion in 2017. The firm has already raised more than $1.7 billion for a follow-up.
- Bain Capital closed its first Double Impact Fund on $390 million in 2017.
- Blackstone launched an impact investing arm last year.
- Apollo Global Management is reportedly seeking $1 billion or more for an inaugural impact fund of its own.
In the broader investment sphere, BlackRock is already following up on a commitment last month to put sustainability at the center of its strategy. Mere days after its launch, the firm has already drawn more than $600 million for a brand new exchange-traded fund focused on environmental, social and governance issues, according to Bloomberg.
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