Private equity major KKR is reportedly looking to raise $2bn for its new infrastructure fund.
KKR Global Infrastructure Investors II will invest in renewable energy, pipelines, utilities and transportation-related assets, said Bloomberg, citing people with knowledge of the plans.
The new fund is expected to be twice as large as KKR’s previous infrastructure-focused vehicle closed in 2012.
Last month it was reported that the New York-headquartered firm had plans to raise up to €3.5bn for its latest European investment fund.
The fund, the firm’s fourth targeting the region, follows its $6.1bn vehicle, KKR European Fund III, raised in 2008.
KKR European Fund III had $1.7bn of capital remaining at the close of 2013, with a 7.8 per cent IRR.
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