Ronaldo Schemidt/Getty Images
Arctos Partners raised $6.2 billion for its debut fund dedicated to financing private-market managers, the first fund it has raised since moving under the KKR brand.
Arctos Keystone Partners Fund I closed 55% above its initial target of $4 billion, an uncommon feat of scale for a first-time fund in an otherwise challenging fundraising market.
The fund drew commitments from pension funds, endowments, insurance companies, family offices and wealth managers, including the Employees Retirement System of Texas, the New Mexico State Investment Council, Maryland State Retirement and Pension System and Canadian pension manager Caisse de dépôt et placement du Québec, according to PitchBook data and public documents.
The strategy provides preferred equity to general partners seeking capital without diluting ownership. Proceeds are used to finance GP commitments into existing or new funds, buy back shares from other investors, or bankroll new strategies, according to a memo prepared for the June 29 investment committee meeting of Kentucky's County Employees Retirement System.
Arctos Partners raised $6.2 billion for its debut fund dedicated to financing private-market managers, the first fund it has raised since moving under the KKR brand.
Arctos Keystone Partners Fund I closed 55% above its initial target of $4 billion, an uncommon feat of scale for a first-time fund in an otherwise challenging fundraising market.
The fund drew commitments from pension funds, endowments, insurance companies, family offices and wealth managers, including the Employees Retirement System of Texas, the New Mexico State Investment Council, Maryland State Retirement and Pension System and Canadian pension manager Caisse de dépôt et placement du Québec, according to PitchBook data and public documents.
The strategy provides preferred equity to general partners seeking capital without diluting ownership. Proceeds are used to finance GP commitments into existing or new funds, buy back shares from other investors, or bankroll new strategies, according to a memo prepared for the June 29 investment committee meeting of Kentucky's County Employees Retirement System.
4 months ago
