UBS Invests $225M in KKR Global Impact
Thursday, September 5, 2019
By Abby Schultz
The KKR Global Impact Fund has received US$225 million from UBS in “one of the largest investments to date” in the private-equity vehicle that launched last year, according to a statement released early Wednesday.
The UBS fund-raising, from its global private client base, nudges the global wealth management firm closer to a commitment to raise US$5 billion within five years to address the United Nations’ sustainable development goals.
For UBS, the KKR fund—with more than US$1 billion in assets to date—is one of the few large impact investing vehicles “where we could be a meaningful participant and deploy a meaningful amount of capital,” says Jake Elmhirst, UBS’s global head of private market investments.