KKR collects $598m for first healthcare fund


Global private equity giant KKR & Co has raised more than $598m for its first dedicated to health care, AltAssets can reveal.

KKR Health Care Strategic Growth Fund has collected commitments from more than 18 LPs according to filing with the US Securities and Exchange Commission.

The filing doesn’t reveal a target or hard cap, but say that total commitments including parallel vehicles and the commitment of the GP and its affiliates equals $598.6m.

Bank of Singapore Limited, Morgan Stanley, and Cygnus Investment Partners are acting as placement agents for the fund, with sales commission priced at $6.53m.

In September last year, KKR was reported to be eyeing between $650m to $800m for the fund according to Bloomberg, which cited people with knowledge of the process.

The vehicle started gathering capital in the same month and will make investments of less than $100m, one of the people added.

A spokesperson for the firm did not immediately respond to a request for comment.

The fund will make growth equity investments and will be led by Ali Satvat and Jim Momtazee.

Satvat joined KKR in 2012 and is a Member of KKR on the Health Care team within KKR’s Americas Private Equity platform.

Prior to joining KKR, he was a principal with Apax Partners, where he invested in health care and was actively involved with many of the firm’s successful growth investments.

Momtazee joined KKR in 1996 and is head of the Health Care industry team and on the Investment Committee within KKR’s Americas Private Equity platform according to its website.

He currently serves on the board of directors of Air Medical Group Holdings, Arbor Pharmaceuticals, BridgeBio, PRA Health Sciences and Signostics.

Copyright © 2017 AltAssets

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