KKR Closes $4.6 Billion Ascendant Fund

– KKR announced the final closing of the KKR Ascendant Fund SCSP (“Ascendant”), a $4.6 billion fund focused on investing in middle-market businesses in North America.

– Launched in 2022 as part of KKR’s Americas Private Equity platform, Ascendant is KKR’s first fund solely dedicated to middle-market opportunities.

– The Fund targets established companies with strong growth potential across seven industry sectors: Consumer, Financial Services, Health Care, Industrials, Media, Software, and Tech-Enabled Services.

– Ascendant is the first middle-market private equity fund committed to implementing employee ownership programs at all majority-owned companies it invests in.

– The Fund leverages KKR’s extensive private equity platform, industry expertise, and value-creation capabilities, building on KKR’s 48-year history of North American investments.

– KKR aims to deliver differentiated business outcomes in the U.S. middle market through its experienced investment team and unique resources.

– Co-Heads of KKR Global Private Equity, Peter Stavros and Nate Taylor, highlighted strong investor response and the attractive opportunities in the North American middle market.

– KKR has long invested in the middle market through its Americas Private Equity funds, utilizing its expertise to drive value creation and deliver compelling results.

– Ascendant will continue KKR’s focus on employee ownership and engagement programs, aligning employee interests with business outcomes.

– Nancy Ford and Brandon Brahm, Co-Heads of KKR’s Ascendant strategy, emphasized that these programs promote equity ownership for employees, enhancing engagement and creating value across portfolio companies.