Accel-KKR raises second structured capital fund with USD325m in capital commitments
Accel-KKR has completed fundraising for Accel-KKR Structured Capital Partners II with USD325m in committed capital, exceeding its target.
The new fund continues the predecessor fund's focus on making minority equity investments in growing technology companies via senior equity and other structured securities.
Accel-KKR raised its first Structured Capital Fund, with USD180m in capital commitments, in 2011.
The firm is also investing out of its fourth buyout fund, Accel-KKR Capital Partners IV, a fund with over USD800m in capital commitments that was raised in 2012.
Accel-KKR, founded in 2000, invests in middle market software and technology enabled service companies with revenues greater than USD10m.
Accel-KKR Structured Capital Partners II received strong support from existing limited partners and also attracted numerous first-time investors.
Rob Palumbo, managing director of Accel-KKR, says: "We are heartened by the support we received from our existing investors, which provided for an expedited fundraising process, allowing the firm to continue its focus on identifying and working closely with great businesses that need capital to continue their growth."
The partners and employees of Accel-KKR are committing seven per cent of the capital to Accel-KKR Structured Capital Partners II, making the firm one of the largest investors in the fund.
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