Arctos closes $6.2B fund targeting alternative asset managers

Arctos, a business of KKR (NYSE: KKR), has closed its inaugural Arctos Keystone Partners Fund I with $6.2 billion in capital commitments, surpassing its original $4 billion target.

The fund attracted capital from pension funds, retirement systems, endowments, insurance companies, family offices, and global wealth platforms. Arctos claims the fund is the largest first-time fund in the GP Solutions space at the time of closing.

Ian Charles, Managing Partner and CEO of Arctos and Partner and Head of KKR Solutions at KKR, said: "We built Keystone to serve these leaders and their firms, not simply as a capital provider, but as a creative, flexible thought partner willing to embrace complexity and help solve hard problems."

The Keystone private equity strategy is led by Joe Corcoran, John Stott, Charlie Tingue, and Michael Belsley. More than 30% of the fund's capital has been deployed across 11 sponsors to date, including backing Hayfin's management buyout from British Columbia Investment Management Corporation.

This is the first final closing of an Arctos fund since KKR completed its acquisition of Arctos in May. The strategy targets relationships with private fund sponsors in North America and Europe.

Evercore Private Funds Group served as the exclusive global placement agent, and Kirkland & Ellis LLP provided legal counsel to Arctos.

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