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Kohlberg Kravis Roberts

KKR Private Markets Equity Fund

K-PRIME

Overview

Manager:
Kohlberg Kravis Roberts
Manager Location:
New York, United States
Manager Website:
www.kkr.com
Fund Website:
kseries.kkr.com/kprime/
Contact Email:
hidden@example.com
Contact Phone:
+12 34 5678 9012
Fundraising Status:
Open
Regime:
UCI Part II (Lux)
Fund Domicile:
Luxembourg
Term:
Perpetual Life
Vintage:
2023
Inception Date:
May 1, 2023
Fund Size:
$6.5B (as of Sep 30, 2025)
Base Currency:
USD
Investor Type:
Non-retail, Institutional
Authorised for Sale:
European Economic Area, Switzerland +1 more

Strategy

Asset Class:
Private Equity
Sub-Asset Class:
Diversified PE
Underlying Investment Type:
Primary
Strategy Description:
K-PRIME seeks to generate attractive risk-adjusted returns with lower volatility relative to public markets and achieve medium-to-long-term capital appreciation through investments in global private markets. It provides access primarily to KKR's institutional private equity platform, with the ability to participate in all current and future KKR-managed private equity strategies (including traditional private equity, middle market, growth equity, core investments and global impact), with the objective of creating a dynamically managed portfolio diversified by sector, industry, geography and vintage.
Geographic focus:
Americas, Europe, Asia
Sector focus:
Information Technology, Health Care, Industrials, Financials, Communication Services, Consumer Discretionary
No. of Investments:
117 (as of Sep 30, 2025)
Focus Investment Type:
Buyout, Growth Equity
Other Focus:
Majority Stake
Leverage:
No long-term fund-level leverage. Short-term credit facility of up to 30% of NAV for liquidity management.
Investment Limits:
No more than 20% of NAV in same issuer (or group)

Allocations

Sector Breakdown

as of Sep 30, 2025

Geographic Breakdown

as of Sep 30, 2025

Strategy Breakdown

as of Sep 30, 2025

Vintage Breakdown

as of Sep 30, 2025

Top Positions

as of Sep 30, 2025
CompanyDescriptionAcquisition DateSectorCountryStrategy
Söderberg & PartnersInsurance brokerage, wealth management, and asset managementNov 2024FinancialsSwedenEurope Buyout
FujisoftEnterprise software developmentNov 2024Information TechnologyJapanAsia Buyout
ExactAccounting and tax softwareApr 2019Information TechnologyNetherlandsCore Private Equity
Axel SpringerDigital advertising businessesDec 2019Communication ServicesGermanyEurope Buyout
CotivitiHealth care data analyticsMay 2024Health CareUnited StatesNorth America Buyout
CircorFlow control solutionsOct 2023IndustrialsUnited StatesNorth America Buyout
IVI RMAReproductive medicine groupJan 2023Health CareSpainEurope Buyout
OmnissaAI-driven digital work platformJun 2024Information TechnologyUnited StatesNorth America Buyout
KaroConsumer health care productsAug 2025Health CareSwedenCore Private Equity
USIInsurance brokerage and consultingNov 2023FinancialsUnited StatesCore Private Equity

Performance

for R (USD) share class

Total Returns (% Net of Fees)

as of Sep 30, 2025

Performance Metrics

as of Sep 30, 2025
Net returnsShare Class: R (USD)Borgline - Evergreen, Global, PEMSCI World TR Index
Since Inception (TR)29.5%30.5%57.4%
Since Inception (ann.)11.3%11.7%20.6%
2025 (YTD)9.7%6.4%17.4%
202411.7%15.1%18.7%
2023 (from May 2023)5.7%6.6%12.9%
Best Month Return2.3%2.8%9.4%
Best MonthMar 2025Jun 2024Nov 2023
Worst Month Return-0.1%-1%-4.5%
Worst MonthApr 2025Apr 2025Mar 2025
Distribution yield
TTM (ann.)N/AN/AN/A
Since Inception (ann.)N/AN/AN/A
Risk metrics
Volatility2.4%3.2%12%
Sharpe Ratio (risk-free rate of 4.3%)2.932.281.36

Key terms

for R (USD) share class
General
Distribution Type:
Accumulating
Investor Type:
Retail
Currency:
USD
Share Class Inception Date:
May 1, 2023
Minimum Subsribtion:
$25,000
Liquidity
Gate:
5% of aggregate NAV per calendar quarter across K-PRIME
Gate Level:
Aggregate NAV
Redemption Frequancy:
Quarterly
Redemption Basis:
NAV per Share
Redemption Notice Period:
10 days
Redemption Settlement:
45 Calendar Days
Subscribtion Frequency:
Monthly
Subscribtion Basis:
NAV per Share
Subscribtion Notice Period:
4 Business Days
Dividend Distribution Frequancy:
N/A
Fees
Management Fee:
1%
Management Fee Basis:
NAV
Management Fee Paying Frequancy:
Monthly
Management fees charged on gross assets:
No
Portfolio-level fees (in addition to management fees):
Yes
Some of the “Other Fees” may offset management fees in part, but many portfolio-level fees and loan-servicing/ARC fees are retained by KKR and are not fully offset against the Management Fee or performance allocation.
Performance Fee:
15%
15% of Total Return
Performance Fee Basis:
Distributions, Change in aggregate NAV
Performance fee is determined on a look-through pooled basis across K-PRIME Aggregator and any Aggregator Parallel Vehicles.
Hurdle rate:
5%
Catch-up:
100%
Performance fees crystallize on unrealized gains:
Yes
Performance fees are charged on the change in NAV units price over the period and can crystallize on unrealized NAV gains, subject to future HWM / Loss Carryforward adjustments.
Perpetual High Water Mark Mechanism (or equivalent):
Yes
Front load (subscription):
0%
Back load (redemption):
5%
If redeemed within 24 months.
Servicing fee:
0%

Key investment people

Pete Stavros
Partner, Co-Head of Global Private Equity KKR, Member of Investment Committee for KKR Private Markets Equity Fund
New York, United States
About

Pete Stavros is Partner and Co-Head of Global Private Equity at KKR, overseeing more than $170 billion of assets, including Europe, Asia, and the Americas. He has pioneered employee engagement and ownership models at over 50 KKR portfolio companies, impacting over 100,000 employees. Stavros is also…

Contact details
LinkedInEmailPhone
View profilehidden@example.com+12 34 5678 9012
Key information
Investment committee member:
Yes
Years at the firm:
20 years
Years in the industry:
23 years
Personal bankruptcy cases (US, UK):
Not displayed...
Litigations/Arbitration cases (US, UK):
Not displayed...
Regulatory history (SEC, FCA):
Not displayed...
Notable deals
HCA Healthcare - Major healthcare acquisition; KKR's largest in sector.
Nielsen - Acquired by KKR consortium (2006, $3.5B). Returned to public markets (2011)
Gardner Denver/Ingersoll Rand - Multi-billion merger, worker equity model
Capsugel - Acquired from Pfizer (2011, $2.375B). Sold to Lonza (2017, $5.5B). 36% IRR with $4.1B total gain.
Capital Safety - Acquired (2011, $1.1B). Sold to 3M (2015, $2.5B).
Hyperion - Acquired from Sandvik (2017-2018, $473M).
Flow Control Group - Acquired from Bertram Capital (2021, $1B+).
Minnesota Rubber and Plastics - Acquired (2018). Sold to Trelleborg (2022, $950M).
Geostabilization International - Acquired (2018). Sold to Leonard Green (2024, 5x equity return). 900+ employees received payouts.
Crosby Group - Acquired with Acco (2013, $1B). Merged with Kito (2024).
CHI Overhead Doors - Acquired (2015, $625M equity). Sold to Nucor (2022, $3B). KKR's highest return in 30 years; $360M employee proceeds.
Experience
Kohlberg Kravis Roberts · 20 yrs 10 mos
Partner, Co-Head of Global Private Equity, Member of Investment Committee for KKR Private Markets Equity Fund
2005 - Present · 20 yrs 10 mos
New York, United States
Co-Head of Americas Private Equity
2010 - 2021 · 11 yrs
New York, United States
Led Industrials Team; Developed employee engagement model
2005 - 2021 · 16 yrs
GTCR Golder Rauner · 3 yrs
Investor, Healthcare sector
2002 - 2005 · 3 yrs
Education
Harvard Business School
MBA with High Distinction (Baker Scholar)
Boston, Massachusetts
Duke University
B.S. in Chemistry, magna cum laude
Durham, United States
Nate Taylor
Partner, Co-Head of Global Private Equity at KKR
Menlo Park, California, United States
About

Nate Taylor joined KKR in 2005 and is Co-Head of Global Private Equity, which includes oversight across Europe, Asia and the Americas. This role covers traditional large and mid-cap private equity, impact, core and growth equity. He is a member of several investment and management committees at…

Contact details
LinkedInEmailPhone
View profilehidden@example.com+12 34 5678 9012
Key information
Investment committee member:
Yes
Years at the firm:
20 years
Years in the industry:
21 years
Personal bankruptcy cases (US, UK):
Not displayed...
Litigations/Arbitration cases (US, UK):
Not displayed...
Regulatory history (SEC, FCA):
Not displayed...
Notable deals
Academy Sports & Outdoors - Acquired from founder family (2011, $2.3B). Took public via IPO (October 2020, $13/share, $1.1B valuation). KKR exited 20% stake (2021, $845.5M). Stock subsequently appreciated to $59/share ($4.2B market cap) by early 2025.
National Vision Holdings - Acquired from Berkshire Partners (2014, $1.1B). Took public via IPO (October 2017, $22/share, $348M raised). KKR divested entire stake in secondary offering.
US Foods Holding Corp - Initial investment (2007). KKR re-entered with $500M convertible preferred stock investment (April 2020). Nate Taylor appointed to Board of Directors. Ongoing partnership.
Experience
Kohlberg Kravis Roberts · 20 yrs 10 mos
Partner, Co-Head of Global Private Equity
2023 - Present · 2 yrs 10 mos
Co-Head of Americas Private Equity
2019 - 2023 · 4 yrs
Head of Asia Pacific Private Equity & held multiple leadership roles building and growing KKR's PE business
2005 - 2019 · 14 yrs
Bain Capital
Investor/Principal
Bain & Company
Consultant
Education
Stanford University Graduate School of Business
MBA, Arjay Miller Scholar
Stanford, United States
Dartmouth College
BA, magna cum laude
Hanover, United States
Alisa Wood
Partner, Co-CEO of KKR Private Equity Conglomerate LLC, Member of Investment Committee for KKR Private Markets Equity Fund
New York, United States
About

Alisa Amarosa Wood is a senior partner at KKR with over two decades of leadership experience in private markets. As Co-CEO of KKR Private Equity Conglomerate LLC, she co-leads the firm's innovative private equity open-ended, perpetual vehicles. She is a member of the investment committee for the…

Contact details
LinkedInEmailPhone
View profilehidden@example.com+12 34 5678 9012
Key information
Investment committee member:
Yes
Years at the firm:
22 years
Years in the industry:
23 years
Personal bankruptcy cases (US, UK):
Not displayed...
Litigations/Arbitration cases (US, UK):
Not displayed...
Regulatory history (SEC, FCA):
Not displayed...
Notable deals
Co-led the development and launch of KKR's innovative Private Equity Conglomerate LLC (K-PEC), an open-ended, perpetual private equity vehicle
Played key role in the closing of KKR North America Fund XIII (NAX3) at $19 billion in 2022, with her role as global head of private markets highlighted in the announcement
Experience
Kohlberg Kravis Roberts · 22 yrs 7 mos
Partner
Apr 2003 - Present · 22 yrs 7 mos
Co-Chief Executive Officer, KKR Private Equity Conglomerate LLC, New York, United States
2022 - Present · 3 yrs 10 mos
New York, United States
Member, Investment Committee, KKR Private Markets Equity Fund, New York, United States
2022 - Present · 3 yrs 10 mos
New York, United States
Global Head, Private Markets and Real Assets Strategies Group
Deutsche Bank's Private Equity Group · 1 yr
Various roles in private equity institutional placement and structuring of private equity, venture capital, real estate and securitized debt products
2002 - 2003 · 1 yr
Education
Columbia Graduate School of Business
Master of Business Administration (MBA)
New York, United States
Columbia College
Bachelor's Degree (BA)
New York, United States
Chris Harrington
Partner, Private Equity; Co-CEO of KKR Private Markets Equity Fund (K-PRIME); Co-CEO of KKR Private Equity Conglomerate LLC; Leader of Financial Services Industry Team
New York, United States
About

Chris Harrington is a Partner at KKR who leads the Financial Services industry team within KKR's Americas Private Equity platform. He is a member of the Investment Committee and the Portfolio Management Committee for Americas Private Equity. He co-leads KKR's private equity K-Series business, which…

Contact details
LinkedInEmailPhone
View profilehidden@example.com+12 34 5678 9012
Key information
Investment committee member:
Yes
Years at the firm:
17 years
Years in the industry:
22 years
Personal bankruptcy cases (US, UK):
Not displayed...
Litigations/Arbitration cases (US, UK):
Not displayed...
Regulatory history (SEC, FCA):
Not displayed...
Notable deals
Alliant Insurance Services - Acquired from Blackstone for an undisclosed amount, KKR later divested in 2021 at $4.5bn valuation.
Apple Leisure Group - Co-acquired with KSL Capital for $2.7 billion in 2021.
Beacon Pointe Advisors - Minority investment with valuation exceeding $1 billion in 2021, one of the largest independent RIAs managing over $20 billion in AUM.
Financial Partners - Majority stake acquired with Stone Point Capital for approximately $2 billion valuation in 2017, partnership of independent wealth management firms.
Santander Consumer USA - Joint investment with Centerbridge and Warburg Pincus for 25% stake, U.S. auto-lending subsidiary that went public in 2014
Experience
Kohlberg Kravis Roberts · 17 yrs 10 mos
Partner, Private Equity
2008 - Present · 17 yrs 10 mos
Leader of Financial Services Industry Team
2008 - Present · 17 yrs 10 mos
Co-CEO of KKR Private Markets Equity Fund/K-PRIME
Co-CEO of KKR Private Equity Conglomerate LLC
Member of Investment Committee, Americas Private Equity
2008 - Present · 17 yrs 10 mos
Member of Portfolio Management Committee, Americas Private Equity
2008 - Present · 17 yrs 10 mos
Merrill Lynch & Co. · 5 yrs
Investment Professional/Corporate Advisory
2003 - 2008 · 5 yrs
Education
Harvard Law School
JD, magna cum laude
Cambridge, United Sates
Harvard College
AB, magna cum laude
Cambridge, United Sates

FAQ

What is KKR Private Markets Equity Fund?KKR Private Markets Equity Fund is an evergreen UCI Part II fund focused on Private Equity and managed by Kohlberg Kravis Roberts.
Who manages KKR Private Markets Equity Fund?KKR Private Markets Equity Fund is managed by Kohlberg Kravis Roberts, based in New York, United States.
How big is KKR Private Markets Equity Fund?KKR Private Markets Equity Fund has a size of $6.5B.
What type of fund is KKR Private Markets Equity Fund?KKR Private Markets Equity Fund is an open-ended / evergreen UCI Part II fund investing in private equity domiciled in Luxembourg.
When was KKR Private Markets Equity Fund launched?KKR Private Markets Equity Fund was launched on May 1, 2023 and is structured as an UCI Part II vehicle with no fixed termination date.
Where is KKR Private Markets Equity Fund domiciled and regulated?KKR Private Markets Equity Fund is domiciled in Luxembourg under UCI Part II.

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K-PRIME | KKR Private Markets Equity Fund - Analysis