KKR & Co. LP plans to raise a maximum of €5 billion from investors in Europe some time in 2018, the Financial Times reported, citing "several people familiar with the plans."
The plan for a new flagship fund comes as the U.S. private equity firm has already exhausted at least 60% of its existing European fund, the report said. The group has yet to determine the definite amount of the fund to be raised, but insiders told the FT that it could be larger than the €3.3 billion it gathered in 2015.
About 50% of the fund to be raised is expected to be offered for co-investment with entrepreneurs and management teams, among other investors, the FT said.
Since launching operations in Europe, KKR has so far carried out 59 deals with a combined value of €16 billion and has returned €28 billion to investors, according to the Oct. 13 report.