KKR has overtaken Partners Group as the largest manager of open-ended private market funds in Europe.
The U.S. private equity firm managed €13.6 billion ($15.6 billion) across its European evergreen platforms at the end of the first quarter.
This total exceeds the €13.4 billion managed by its Swiss rival, according to data from Novantigo.
The milestone follows the May 2023 launch of KKR’s first European-domiciled evergreen vehicle for wealth investors.
Asset managers are increasingly targeting high-net-worth and retail investors through semi-liquid structures.
This industry shift occurs as traditional institutional allocations face constraints in several markets.