PRINT THIS PAGE KKR European Fund II closes on €4.5bn24/10/2005. Source: AltAssets. 
 US buy-out giant Kohlberg Kravis Roberts & Co. has closed KKR European Fund II, the firm's second private equity fund targeting investments primarily in Western Europe, on €4.5bn. The original target of the fund was €3bn.
Investors include a variety of institutional investors from across North America, Europe, Asia and the Middle East. The executives of KKR have committed €100m of the capital raised.
Henry Kravis and George Roberts, founding partners of KKR, said in a statement, 'Our new fund will build on our accomplishments in Europe. Since our founding in 1976, we have raised 11 funds, invested $22.5bn in equity, and realised more than $50.7bn for our limited partners. Our gross IRR across all of our funds is 27.1 per cent, representing a multiple of invested capital of 2.7x.'
KKR's first European fund, KKR European Fund, which was raised in 1999, has invested or committed for investment all $3bn of its committed capital, the firm said in a statement.
KKR has been among the most active US groups in Europe over the last few years. Its European investments include Newsquest, Willis Group, Wincor Nixdorf, Legrand, Royal Vendex, ATU and MTU.
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