KKR has announced the final closing of the KKR Global Impact Fund II, raising $2.8 billion.

KKR says the fund invests in companies whose products and services contribute measurable progress toward the United Nations Sustainable Development Goals. It contributes to the SDGs by investing in companies where financial performance and positive societal impact are aligned, with a focus on four key investment themes: Climate Action, Sustainable Living, Lifelong Learning, and Inclusive Growth.

The fund has received backing from global investors including public pensions, family offices, insurance companies, and other institutional investors. KKR will also be investing $250 million of capital in the fund.

Robert Antablin, KKR Partner and Co-Head of KKR Global Impact says, “We launched KKR Global Impact in 2018 because we saw an opportunity to invest behind proven companies that deliver scalable, commercial solutions to global problems. Since then, that opportunity set has continued to grow, and we are thrilled with the outcomes our portfolio companies have been able to achieve. We are grateful for the support of our investors who share our conviction in this space, which we believe is well placed given the strong performance of our first fund.”

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