KKR closed the $1.3 billion KKR Global Impact Fund SCSp, its first fund focusing on investing in companies offering commercial solutions for environmental and social challenges, exceeding its original fundraising target, KKR spokeswoman Cara Major, said in an email.
KKR is not disclosing the fundraising targets, she said.
The fund will invest in companies in North America, Europe and Asia. Among the fund's macro themes are mitigating and adapting to climate change; protecting clean water; learning and workforce development; responsible waste management; leveraging technology to enhance safety, mobility and sustainability; serving globally conscious consumers healthier and more sustainable products and services; and upgrading declining industry and infrastructure, according to a news release.
Investors in the fund include the $225.9 billion New York State Common Retirement Fund, Albany.