– KKR announced the final closing of KKR North America Fund XIV (NAX4), an approximately $23 billion fund.
– NAX4 focuses on opportunistic private equity investments in North America and is the largest North America–focused PE fund ever raised.
– Peter Stavros and Nate Taylor, Global Co-Heads of Private Equity at KKR, emphasized the fund’s disciplined approach, partnering with management teams to improve companies operationally and culturally.
– KKR has a nearly 50-year track record of investing in North America.
– Over the past decade, KKR’s three predecessor funds (North America Fund XI, Americas Fund XII, North America Fund XIII) delivered a gross IRR of 23% (19% net) and a gross multiple on invested capital of 2.1x (1.8x net) as of December 31, 2025.
– KKR’s private equity assets under management have doubled since 2020, reaching approximately $229 billion across flagship regional, growth, and core funds.
– The close of NAX4 increases capital raised across KKR’s most recent flagship regional funds to $46 billion.
– NAX4 received support from a diverse global investor base including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, private wealth platforms and family offices, high-net-worth individuals, and other institutional investors.
– NAX4 will continue its predecessors’ commitment to supporting majority-owned companies in implementing broad-based employee ownership programs.
– Since 2011, 85 KKR portfolio companies have awarded billions of dollars in equity to over 200,000 non-senior management employees globally, emphasizing employee engagement and financial opportunity.
