Private Equity 8 Hours

Last updated: August 3, 2026, 11:37 AM ET

KKR's Record Infrastructure Fund and Renewable Energy Deals

KKR has successfully closed its largest-ever infrastructure fund, KKR Global Infrastructure Investors V, at a record $19.2 billion. This landmark fund is already significantly deployed, with almost half of its capital committed. In a parallel transaction, KKR is acquiring a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion. This renewable energy portfolio comprises 1.2 GW of solar and wind assets across Europe. The acquisition follows KKR's earlier purchase of Total Energies' North American solar business for $1.25 billion in late 2025. KKR also is launching a GP-led strategy targeting the secondaries market, with CFO Robert Lewin noting the firm's belief in building a "world-class" business in this sub-segment.

Secondaries Market Activity and Fundraising

The secondaries market continues to see robust activity, with Adams Street Partners raising over $5 billion in capital commitments for its latest Secondaries Investment Program. This program was anchored by the close of its Global Secondary Fund 8 at $2.7 billion. Specialist impact firm Blue Earth has also advanced its debut dedicated secondaries fund by raising an additional $100 million, marking its second close. The overall secondaries market has cleared approximately $200 billion.

Deal Activity and Portfolio Company Exits

Permira has agreed to sell its portfolio company Bio Catch to Visa for $2.4 billion. Bio Catch is a fraud intelligence provider that protects over 760 million consumers globally through more than 350 financial institutions. In another notable transaction, Permira is achieving a partial exit from its investment in Reformation, a sustainable fashion company. Reformation and its shareholders raised $210.9 million through an initial public offering, with shares priced at the lower end of the marketed range.