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Laxman Pai, Opalesque Asia: The alternative asset manager firm KKR & Co raised $1.3 billion for its first global impact fund, one of the largest of its kind.
The global investment said in a press release that the fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.
The KKR Global Impact Fund marked the final closing with help from a diverse group of investors, including public pensions, family offices and wealthy individuals.
Investors in the fund include the $225.9 billion New York State Common Retirement Fund, Albany.
According to the release, the fund is focused on generating private equity risk-adjusted returns by investing in companies in the lower middle market that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs).
"The UN SDGs were developed to mobilize citizens, policymakers, technologists, and investors to address global challenges. As investors, we have a significant role to play in building businesses that contribute to SDG solutions while also generating financial returns for our fund investors by doing so," said Robert Antablin and Ken Mehlman, KKR Partners and Co-Heads of KKR Global Impact.
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 wor...................... To view our full article Click here
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