Global private investment firm KKR has held the final closing of KKR Ascendant Fund SCSP (Ascendant), an investment vehicle dedicated to investing in middle market businesses in North America, with $4.6bn in total capital commitments.
Launched in 2022 as part of KKR’s Americas Private Equity platform, Ascendant is the first KKR vehicle solely focused on opportunities in the middle market. The fund will target established companies across seven industry verticals: Consumer, Financial Services, Health Care, Industrials, Media, Software and Tech-Enabled Services.
Ascendant is also the first middle-market private equity fund committed to supporting the implementation of employee ownership programs at every majority-owned company in which it invests.
To date, Ascendant has invested in six leading North American companies including Alchemer, 123Dentist, Industrial Physics, Potter Global Technologies, mdf commerce and Marmic Fire & Safety.
The Fund, which was oversubscribed and closed at its hard cap, received strong backing from a diverse group of new and existing global investors, including public pensions, family offices, insurance companies and other institutional investors.
