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 Kohlberg Kravis Roberts & Co. fell a bit short of its $18 billion hard target for its latest investment fund, closing with $17.6 billion, according to Private Equity Online. Raised primarily during private equity's happier times in 2006 and 2007, the new fund, KKR 2006 Fund LP, is almost 3 times larger than its $6 billion predecessor. Also closing a multibillion fund this month was Bain Capital. The Boston firm shot past the €2.5 billion ($4 billion) target for its European fund, ending up with €3.5 million. And earlier in March, New Mountain Capital LLC wrapped up its third private equity investment vehicle, New Mountain Partners III LP, with just over $5.1 billion in commitments. Inspite of the bleak credit environment and the dearth of leveraged buyout opportunities, private equity firms have continued to raise fresh capital at a breakneck pace. PEHub estimates that buyout and mezzanine funds have already put another $60 billion under management in 2008, an amount KKR may yet add more to as it has already put most of the money in KKR 2006 Fund to work, so it might not be long until the firm gets started on raising its next investment limited partnership. - George White See KKR story at Private Equity Online See story about Bain from TheDeal.com See story about New Mountain Partners TheDeal.com See story about KKR from peHUB See Dealwatch on PE and VC fundraising See recent KKR deals at Merger/Arb Alert CategoriesPrivate capital video
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