KKR Raises $11 Billion for Its Newest Global Infrastructure Fund

KKR & Co. raised $11 billion for its latest global infrastructure fund, more than half of its target, according to a person with knowledge of the matter.

The alternative-asset manager began fundraising for KKR Global Infrastructure Investors V in November with a goal of $20 billion, said the person, who asked not to be identified discussing confidential information. The firm hasn’t yet held a first close on the fund.

A spokeswoman for New York-based KKR declined to comment.

The first global infrastructure fund delivered a gross internal rate of return of 17.6% and the second has so far generated a ...